Associate company results
February 04 2010 - 2:00AM
UK Regulatory
TIDMCLTV
RNS Number : 6554G
Cellcast plc
04 February 2010
4 February 2010
Associate company results
Cellcast Asia posts 400% revenue growth and record profits
Strong endorsement of Cellcast plc's proprietary technology and business model
Cellcast plc (AIM: CLTV), the interactive digital broadcaster, today announces
that Cellcast Asia (its associate company of which it owns 37.5%) delivered
revenues of US$6,409,000 in the second half of 2009, a 400% increase on the same
period in 2008. Cellcast Asia anticipates that it will record second half
profits of just over US$2,000,000.
Commenting on the interim results, Cellcast Asia CEO, Pankaj Thakar said: "Our
rapid growth in 2009 is the result of several factors. The mobile market in
India is delivering extraordinary opportunities for resourceful companies. We
have fine-tuned existing programming, expanded distribution and launched new
formats that have succeeded beyond expectations. We are now seeing the benefits
of the expertise and focussed understanding of consumer needs that we have built
up over the last few years".
The exponential growth of the Indian mobile market continues, with a record 19
million new subscribers in the month of December 2009 alone. India now boasts
525 million mobile subscribers - up 51.4% from December 2008, with continued
room for growth as penetration stands at just 40%. Pankaj Thakar said: "Whilst
our costs are fixed, more and more people are able to interact with our
programmes every month, significantly increasing response rates and driving
margin growth".
Pankaj Thakar continued: "Cellcast Asia is benefiting from the strategic support
of both mobile operators and broadcasters. Network operators see the services as
a way to increase ARPU in an increasingly competitive environment, with
traditional voice and data yields declining as a result of market expansion and
price competition. For broadcasters, who face increasing competition in a tough
competitive advertising environment, our services frequently generate yields
that exceed those available from spot advertising".
Cellcast Asia forecasts continued growth through 2010, with increased
distribution on the national DTH platform and greater penetration in regional
markets as Hindi production expands into local languages such as Urdu and Tamil.
Andrew Wilson, CEO of Cellcast plc ,commented: "Coming on top of the Red Herring
award that named Cellcast Asia as one of the 100 best private technology
companies in the world, the 2009 performance is a further endorsement of
Cellcast plc's business model, its proprietary technology, and the group's
proven ability to exploit significant participation TV revenue opportunities in
the fast growing Asian market."
For further information:
+------------------------------------+------------------------+
| Cellcast plc | |
+------------------------------------+------------------------+
| Andrew Wilson, CEO | Tel: +44 (0) 20 7190 |
| | 0300 |
+------------------------------------+------------------------+
| andrew@cellcast.tv | www.cellcast.tv |
+------------------------------------+------------------------+
+------------------------------------+------------------------+
| Allenby Capital Limited | |
+------------------------------------+------------------------+
| Nick Naylor | Tel: +44 (0) 20 3328 |
| | 5656 |
+------------------------------------+------------------------+
| n.naylor@allenbycapital.com | www.allenbycapital.com |
+------------------------------------+------------------------+
+------------------------------------+------------------------+
| Threadneedle Communications | |
+------------------------------------+------------------------+
| Graham Herring / Robyn McConnachie | Tel: +44 (0) 20 7653 |
| | 9850 |
+------------------------------------+------------------------+
| | |
+------------------------------------+------------------------+
About Cellcast Asia
Cellcast Asia is the leading participation TV broadcaster in the Indian
subcontinent. The company was an early entrant and innovator in the interactive
TV services business and has developed unique multi-platform expertise which
spans format inception, development, production and broadcasting in combination
with a billing platform built on a unique network of technical and commercial
relationships with mobile and fixed line operators across the region.
About Red Herring
Red Herring (www.redherring.com) is a global media company which unites the
world's best high technology innovators, venture investors and business decision
makers in a variety of forums: a leading innovation magazine, an online daily
technology news service, technology newsletters and major events for technology
leaders around the globe. Red Herring provides an insider's access to the global
innovation economy, featuring unparalleled insights on the emerging technologies
driving the economy.
About Cellcast PLC
Cellcast plc (AIM: CLTV) provides interactive mobile content for today's dynamic
multi-platform digital entertainment sector. Cellcast's services enable
broadcasters, content developers, media ventures, 3G services and mobile
networks to profit from the convergence of television, IT and
telecommunications. The company develops, aggregates, and distributes a
portfolio of mobile and participation TV applications and produces live
interactive pay-to-play programming matching the needs of broadcasters. The
company distributes its programmes on various channels and platforms, including
BSKYB, Freeview and Freesat in the United Kingdom, and across the Middle East
and India through its associate companies Cellcast ME and Cellcast Asia
Holdings.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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