25 May 2012

Indian cheer for Cellcast

04/02/2010 Robert Tyerman

Interactive digital broadcaster Cellcast’s associate Indian company has hoisted second half revenues 400 per cent to £4 million.

Until recently an AIM dog, London-based Cellcast, which provides interactive mobile content for the multi-platform digital entertainment sector, owns 37.5 per cent of Cellcast Asia, the ‘leading participant TV broadcaster in the Indian sub-continent’, which says it expects second-half profits of more than $2 million (£1.25 million). The associate company's performance contrasts with Cellcasts’s own first-half loss of £382,125 on turnover of £8.6 million, against a previous £342,238 profit on £6.7 million turnover.

Cellcast Asia boss Pankaj Thakar explains the mobile market in India is booming, but still has wide scope for further expansion before full market penetration is achieved. ‘Whilst our costs are fixed, more and more people are able to interact with our programmes every month’.

Andrew Wilson, chief executive officer of Cellcast, claims the Asian company’s performance is ‘a further endorsement of Cellcast’s business model, its proprietary technology and the group’s proven ability to exploit opportunities in the fast-growing Asian market'.

Floated at 71p in 2005, Cellcast shares hit 93.5p before collapsing to 2.25p in early 2008 and have now rallied to 5.88p, valuing the company at an undemanding £4.4 million.

Tags: AIM, Emerging markets, Growth Stocks

Sector: Media

Companies: Cellcast

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