Crowd Mobile well placed for expansion

Crowd Mobile says revenue, gross profit, earnings and paid message volume grew in the first half of the financial year.

Crowd-sourced "micro-job" workforce provider Crowd Mobile says it is well placed for expansion.

Crowd Mobile provides mobile phone apps that link clients with a network of expert researchers who can provide information or advice on jobs that take less than five minutes, such as providing advice on relationships or on an item of clothing that someone wants to buy.

The clients seeking answers to their questions pay a small fee for each answer received.

The apps include Bongo Thinks, Bongo Knows, Passion For Fashion, and What Would Jesus Do.

Crowd Mobile has been trading on the Australian Securities Exchange since late January.

Crowd Mobile said in a trading update on Monday that the six months to the end of December 2014 had been underpinned by continued expansion in markets overseas.

Revenue, gross profit, earnings and paid message volume grew.

Chief executive Domenic Carosa said the key revenue drivers during the half were newly penetrated markets in Europe.

Crowd Mobile executed agreements to launch services into Italy, Hungary, Portugal, Spain, Poland, and Norway.

"Crowd Mobile is focused on continuing to grow through geographic expansion with its existing product portfolio, given the scalable platform it has in place," Mr Carosa said.

"In the near term, greater Europe and Asia remain very attractive prospective growth avenues, while longer term growth is expected to be generated through expanding current operations in North America and through building the company's product portfolio."

Crowd Mobile said that in the first half, messages volume rose 30 per cent to 2.2 million.

Revenue lifted 20 per cent to $5.6 million, and normalised earnings before interest, tax, depreciation and amortisation (EBITDA) was up 40 per cent at $1.4 million.

Shares in Crowd Mobile were 0.5 cents higher at 21.5 cents at 1102 AEDT.


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Source: AAP


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