UNAUDITED INTERIM REPORT FOR THE 6 MONTHS ENDED 30 JUNE 2014

September 25, 2014

The Directors of SyQic plc, (AIM:SYQ), the fast growing OTT provider of paid video content across mobile and internet enabled consumer devices, are pleased to announce the Company’s unaudited interim results for the six month period ended 30 June 2014.

FINANCIAL HIGHLIGHTS
  • Revenue increased by 424% to £4.59m (H1 2013: £0.87m)

  • Profit after tax increased by 2,643% to £0.96m (H1 2013: £0.035m)

  • Earnings per share increased by 1,700% to 4.14p from 0.23p

  • Net cash at 30 June 2014 of £0.45m (H1 2013: £0.12m)

OPERATIONAL HIGHLIGHTS
  • Launch of Yoonic OTT services for Bangladeshi and Filipino customers

  • Launch of Yoocard scratch card payment option

POST PERIOD HIGHLIGHTS
  • Acquisition of Maaduu, an online video-on-demand service providing high-value Korean content, for circa. £1m

  • Share placing to raise £1.85m

  • January and February payments totalling £0.63m received from our major Indonesian partners

  • Partnership with Fortumo enabling direct mobile billing of OTT customers on a global basis

  • £1.96m combined revenues recorded for July and August 2014

Jamal Hassim, Group Chief Executive Officer of SyQic, commented: ““We are delighted with our performance during the first half of 2014, during which time we achieved strong growth in revenues and profits. In addition, we achieved improved payment terms with our major Indonesian partners on current year billings and our long-term receivables continue to be reduced.”

“Post the period end we announced the acquisition of Maaduu which, in-line with our strategy, will enable us to realign our portfolio of content to focus more on in demand Korean drama and music. The acquisition also expands our customer base, will enable us to exploit advertising revenue streams and is expected to provide a number of business synergies going forward.”

“In addition, we successfully launched our OTT service offering during the period, which we believe will benefit greatly from our recently announced partnership with Fortumo, enabling customers to pay us directly for content via their mobile phones.”

 

“These positive strategic developments, combined with the continuing growth of our core business post period end, enable us to look to the future with confidence.”

   Click here for the full announcement

For further information: 

SyQic plc 

Jamal Hassim, Group Chief Executive OfficerTel: +44 (0) 20 7933 8780

Steve Elliff, Chief Financial Officerwww.syqic.com

  

Allenby Capital Limited 

Alex Price / Jeremy PorterTel: +44 (0) 20 3328 5656

www.allenbycapital.coma.price@allenbycapital.com

  

Media enquiries: 

Walbrook, Financial PR and IR 

Bob Huxford / Guy McDougall / Sam AllenTel: +44 (0) 20 7933 8792

 syqic@walbrookpr.com

 

Notes to Editors:

SyQic is a fast growing OTT (Over The Top) provider of live TV and on-demand paid video content across mobile internet-enabled consumer electronics devices such as mobile phones and tablets through its “Yoonic” platform. Yoonic utilises efficient mobile video streaming as its core offering and allows for close to high definition streaming, utilising adaptive bit-rate streaming technology that matches the available bandwidth through the Group’s proprietary encoding methodology, and can stream as low as 80kbps.

The Group has access to over 40,000 hours of online video-on-demand content as well as over 200 live television feeds comprising English and International video content as well as content for a number of ‘home markets.’ The content is delivered through SyQic’s platforms via a number of channels in the movies, drama, music, sports, news, lifestyle and general entertainment genres.

The Group, which is incorporated in Jersey and headquartered in the UK, already has a significant service footprint in the Philippines, Indonesia and Malaysia. The Group has recently launched international OTT services for the Bangladeshi and Filipino communities in the UK, Malaysia, and Singapore and these services will soon be launched in other regions. Other migrant content launches are planned in the near term.

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