Mobile Interactive Group Posts Strong 2010 Financial Results

LONDON and BARCELONA, Spain, February 14, 2011 /PRNewswire/ --

- Gross Profit Margin Increase of 46%

http://www.migcan.com

Global mobile and digital communications business Mobile Interactive Group (MIG) today reveals strong growth for 2010, listing a sustained increase in turnover of 15% from GBP68M in 2009 to GBP78M in 2010.

Highlights from MIG's consolidated accounts include:

    
    - Revenue increase of 15%

    - Staff growth of 30%

    - Continued to increase our investment in technology development to GBP5m
    for the year

    - Operating profit trebles for the year

    - Further international expansion with new offices in USA

"We are delighted with our financial results and would like to thank our customers for their continued support. The smartphone revolution continues to have a significant effect on our business and we expect it to continue," said Barry Houlihan, CEO and Founder, Mobile Interactive Group.

"Looking forwards to 2011, we anticipate a larger contribution to our margin growth to come from overseas customers and we are on track to deliver strong revenue growth through organic expansion and acquisition, with margin growth in line with previous years. Our continued positive operating cash flow demonstrates that our core business model is highly cash generative and we believe 2011 will be a very big year for MIG and our customers.

"In 2010 we invested significantly in new mobile infrastructure and technology particularly in the areas of mobile payments, mobile CRM, mobile web and app development and mobile advertising. We are now starting to see the benefits of this investment as we grow and scale our business into new markets."

To broaden the group's technology and services offering across the mobile services value chain, MIG acquired CRM and mobile marketing technology business Piri, in June 2010. MIG intends to make further acquisitions in 2011 as it seeks to increase its international footprint.

In October 2010 MIG was named No.1 in the 'Deloitte Technology Fast 50' and 'EMEA Fast 500' recording 26,885% growth over a five year period. Additionally MIG ranked as the No.1 mobile company in the UK (NMA Marketing Services Guide) for three consecutive years (2008, 2009 and 2010).

Recent contract announcements include an exclusive strategic partnership and extended three year contract renewal with ITV, a two year contract renewal with Channel 5 and a new partnership with Sky - With all three utilising MIG's Interactive Broadcast Platform (IBP) to enable live votes, polls and real-time participation and more via mobile.

MIG is also expecting to make further major customer announcements over the coming weeks.

About Mobile Interactive Group

Mobile Interactive Group (MIG) is a global integrated mobile and digital communications business and is the fastest growing privately owned technology company in the UK and EMEA.

Comprising a unique combination of services, MIG specialist disciplines include mobile technology and services provision; mobile billing, messaging and mCommerce; mobile advertising and marketing; multi channel digital solutions; the design, build and publishing of mobile internet sites and applications, and user experience design.

All platforms, products and applications are developed in-house and are MIG's proprietary technology. We currently serve multiple sectors including Technology Providers, Retail, Mobile Network Operators (MNO), Media, Broadcaster & Entertainment, Financial Services, Public Sector and Government Agencies, FMCG, Original Equipment Manufacturers (OEM).

We have over 300 clients including M&S, O2, Vodafone, ITV, Sky, Barclaycard, MoneySupermarket, NHS, COI, Walkers, Tropicana, Nokia, Samsung and more.

Whether your objectives are to drive customer acquisition, increase brand awareness, or encourage consumer engagement and participation - MIG can get involved at variety of levels to achieve the desired results across all mobile and digital channels. Innovation, technology, creativity and passion remain core to everything we do and we aim to help our clients understand the benefits of adopting a fully integrated, cross platform communications strategy.

To learn more go to http://www.migcan.com

    
    For all media enquiries please contact:

    Tim Banks              Emma Potter
    infomob PR             Head of Communications, MIG
    tim@infomob.co.uk      emma@migcan.com
    +44(0)7771-512-057     +44(0)7739-902-473