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mporium Group has high hopes for new platforms in development

Last updated: 06:52 21 Apr 2016 EDT, First published: 03:52 21 Apr 2016 EDT

Smartphone
What's on the telly? The smartphone? The tablet?

Mobile commerce specialist mporium Group (LON:MPM) gave more indication of its proposed direction of travel under its new management team in its results statement.

Those results were affected by legacy issues from its previous incarnation as MoPowered, but the new management team has directed the company away from the original MoPowered business to focus on a market niche for which it believes there is considerable real demand.

The company has been in the process of developing two new products, “impact” and “insights”, to meet these market needs. Development of the new products has been progressing well and mporium expects to bring these products to market by the middle of 2016.

The “impact” product is specifically targeted at making money from events that advertising behemoth Google calls “micro-moments” - little incidents, nuggets of information or content that pique a consumer's interest.

In particular, the product is aimed at those consumers that have a mobile device, such as a tablet computer or smartphone, up and running while they watch television – a practice called “second screening”.

The target customers for the “impact” platform are tier-one brands, retailers and agencies, mporium said.

The “insights” platform is also built for the smartphone era but is focused on the small and medium enterprises (SME) market.

It combines high end analytics with the ability to personalise content based on real-time transactions and, crucially for quick adoption purposes, requires no in-depth technology knowledge or experience.

In 2015, overall revenues increased 38.3% to £1.3mlm from £915,931 in 2014. Growth was driven primarily through the acquisition of FWM and recognition of seven months' income, as further MoPowered client sales were brought to a close at the beginning of 2016.

Loss from continuing operations before taxation held steady at £5.13mln versus a loss of £5.06mln in 2014.

Cash and cash equivalents at the end of 2015 stood at £2.67mln, up from £1.10mln at the end of 2014.

"Since joining the group last June, we have undertaken a fundamental reorganisation of the business and implemented an intensive programme of new product development,” said Barry Moat, chief executive of mporium Group.

"With an experienced management team now in place, there is a strong foundation in terms of personnel and truly innovative technology,” he added.

That pool of experience has been added to by the appointment of legal eagle Aidan Casey to the board as a non-executive director.

Casey has more than 20 years' legal experience, acting for a diverse and international range of companies in his time as a self-employed barrister in private practice, a position he's held since 1993, mporium said.

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