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Mobile Tornado Narrows Pretax Loss Slightly; Signs Alvarion Deal(Alliance News Via Acquire Media NewsEdge) LONDON (Alliance News) - Mobile Tornado Group PLC said Friday it narrowed its pretax loss in the first half slightly despite a fall in revenue as its cost of sales came down, and said it has signed a new deal for its instant communications software with Alvarion Technologies Ltd. The company, which provides instant communications services for mobile devices, said its pretax loss in the six months to June 30 was trimmed to GBP1.3 million from GBP1.4 million last year. Revenue was down in the period to GBP1 million from GBP1.4 million in 2013, but this fall was offset by a drop in its cost of sales to GBP149,000 from GBP792,000 in the same period last year. Total operating expenses did rise, but the fall in the cost of sales was enough to offset the rise. The group said subscriber numbers increased in the half year to 45,000, from 29,000 last year on the back of mobile network operator deployments of its technology. The group said Instacom, its partner in South Africa, has become the dominant provider of instant communications services in the market via deals with three mobile operators. "I am delighted that we are achieving increased engagement with customers across all parts of our business. We are focussed on converting this momentum into an improved financial performance," Jeremy Fenn, Chief Executive of Mobile Tornado, said. He added trading in the second half so far is in line with expectations. The company also said it has signed a strategic partnership with Alvarion Technologies on Friday, under which its instant communications services will be integrated into Alvarion's WiFi platform solution. Mobile Tornado shares were untraded on Friday at 11.375 pence. Copyright 2014 Alliance News Limited. All Rights Reserved. |