Irish-owned mobile company Getmobile has reported a 25 per cent rise in pre-tax full-year 2008 profits from €2.68 million to €3.35 million.
Revenue for the company, which is chaired by venture capitalist and entrepreneur Pierce Casey was €101.45 million, compared to €100.76 million in the previous year. Like-for-like EBITDA increased by 39 per cent from €2.78 million to €3.87 million.
Adjusted earnings per share were up 22.7 per cent at 28.98 cents compared to 23.59 cents a year earlier while earnings per share rose12.8 per cent at 26.60 cents compared to 23.59 cents in 2007.
The company's business model involves selling contracts bundled with a mobile phone handset and taking commission from operators and service providers. Getmobile Europe is listed at the Alternative Investment Market (AIM).
The number of mobile phone contracts it sold last year grew 25 per cent over the year to 173,500 from 138,700 in 2007.
Mr Casey said indications for this year to date show that the impact of the recession and credit crunch has produced some margin pressure.
“While we anticipate a rebound later in the year, it is likely that in the short term trading will continue to follow the less buoyant trend experienced so far in 2009. The company is however profitable, cash generative, and has substantial cash balances and no debt. Moreover, from 2010 onwards, we anticipate the start of a meaningful contribution from our emerging e-commerce businesses,” he said.
