Australian-listed mobile entertainment and digital media company Crowd Mobile has reported revenue of $21.1 million for the first six months of the 2018 financial year on the back of what it says was a strong performance in its Q&A division and strategic investment into the Crowd Media business.
The company (ASX:CM8) also reported an EBITDA of $2.4 million, and a NPAT loss of $0.3 million, which was an improvement of 70%. The company’s net debt was down by 62%to $1.1 million.
Crowd Mobile says the number of telco mobile payment partners increased from 212 to 248 during the half, during which it appointed Michel de Jong as its new Chief Operating Officer.
Crowd Mobile invested $1.5 million in establishing Crowd Media during the half, and Chief Executive Officer, Domenic Carosa said the new Crowd Media Division presents an important strategic opportunity for the company, and “we will continue to focus on capturing the significant opportunity that exists in the digital marketing sector”.
{loadposition peter}“We are very pleased with the continued growth in our Q&A division and although our Subscription Division encountered stronger operating headwinds than expected, we believe the initiatives we are currently working on, combined with the appointment of new leadership, will facilitate future growth.
“The re-invigoration of Crowd Mobile remains both a challenge and opportunity and we have solid plans to pursue improvements in 2018.
“I expect the appointment of a European-based credentialed COO to our senior team will significantly bolster our execution capability moving forward and look forward to reporting our future developments,” Carosa said.