LONDON (ShareCast) - Synchronica, the e-mail for mobile phones specialist, saw interim losses almost double but said recent contract wins and a strong business pipeline make it confident of a successful outcome over the full year.
Loss before tax widened to £2.8m in the first half of 2008 from £1.5m a year earlier on revenue that slumped from £0.76m to £0.19m.
Chairman David Mason preferred to concentrate on the “significant increase in business in the start of the second half of this year” following the acquisition of competitor AxisMobile in August.
Since AxisMoble was acquired the company has secured two contract wins, one of which was an expansion order worth $0.73m with Russia’s largest mobile operator, MTS.
Synchronica has a strategy of focusing on mobile e-mail in emerging markets where access to the internet via computers is still in the early stage of development, and believes the recent contract wins confirms the viability of this approach.
“We are seeing a confirmation of our strategy in the increased level of interest from customers in emerging markets as well as a further validation from recent contract wins,” Mason said.
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