Earnings: Bango Cuts Losses, Grows Revenue As Mobile Web Awareness Grows

Mobile web service provider Bango, which is floated on London’s AIM and packages mobile websites for clients including MTV, News International and Maxim, slimmed its pre-tax losses to £980,000 ($2.02 million) for the half-year to September 30, down 35 percent from £1.5 million ($3.09 million) in the prior year, after growing its customer base and cutting costs.

Premium customer additions grew to 108 from 80 a year ago, while over 1,200 starter packages were taken out, up from just 23 a year ago. It’s helped grow revenues 49 percent from £4.6 million ($9.48 million) a year ago to £6.84 million ($14.1 million). It’s spending less, too – operating expenditure falling 16 percent to £2.37 million ($4.88 million) and monthly cash burn dropping under £100,000 ($202,000).

The company said mobile web initiatives from the likes of Google (NSDQ: GOOG) and Yahoo (NSDQ: YHOO) meant customers were now more savvy about services and Bango (AIM: BGO) could switch from educating to acquiring consumers.

Release and financials