SyQic plc, (AIM:SYQ), the fast growing OTT provider of paid video content across mobile and internet enabled consumer devices, announces its unaudited results for the six month period ended 30 June 2015.
Revenue increased by 30% to £6.0m (H1 2014: £4.6m)
Operating profit increased by 43% to £1.38m (H1 2014: £0.97m)
Profit after tax increased by 43% to £1.37m (H1 2014: £0.96m)
Earnings per share increased by 23% to 5.09p from 4.14p
Net cash at 30 June 2015 of £0.58m (H1 2014: £0.45m)
Agreement with telecoms provider UK GlobeTel Ltd (“Globe UK”) to launch a UK based co-branded Filipino version of the Yoomob service
Korean focussed OTT service, Cool2vu, launched in Malaysia, Indonesia and Singapore
Cool2vu service expanded into Europe, South America, Central America, India and the Philippines
Heads of Terms agreement with ASIA eUniversity, to host courses and deliver educational programmes to its global student population
Since launch, to the end of June, the Cool2vu service attracted 134,000 new users across 182 countries including in high growth markets such as Brazil, India and France
Jamal Hassim, Group Chief Executive Officer of SyQic, commented: “Our performance during the first half of 2015 has been very pleasing. While the Yoomob service continued to grow revenue through its transactional revenue model, our new Korean focused OTT service Cool2vu has seen rapid growth in user numbers, particularly in the period since the end of June. SyQic is now well placed to leverage its unique industry position as the global video streaming market expands and we continue to look for new geographical markets and new revenue opportunities to drive the business forwards.”
Click here for the full announcement
For further information:
SyQic plcTel: +44 (0) 20 7933 8780
Jamal Hassim, Group Chief Executive Officerwww.syqic.com
Steve Elliff, Chief Financial Officer
Allenby Capital LimitedTel: +44 (0) 20 3328 5656
Walbrook, Financial PR and IRTel: +44 (0) 20 7933 8792
Paul Cornelius / Guy McDougall / Sam Allensyqic@walbrookpr.com
Notes to Editors:
SyQic is a fast-growing provider of live TV and on-demand video content across mobile and internet-enabled consumer devices. Incorporated in Jersey with offices in Malaysia and the UK, it has a significant service footprint in Singapore, Indonesia and Malaysia.
The Group launched its new Korean content service called "Cool2vu" in Malaysia, Singapore and Indonesia in January 2015 streaming high demand Korean content initially utilising an advertising revenue model. The service has since been expanded to include Europe, South America, Central America, India and the Philippines.