SyQic's interim results to be in line with forecasts

15th Jul 2015 10:53

(ShareCast News) - Live TV and on-demand video content provider SyQic said its trading during the first half of the year was in line with expectations.The group's Cool2vu showed signs of strong growth in Southeast Asia, Europe, South America, India and the Philippines driven by an increase in advertising revenue stream and good results from the cross-selling of services to its telco partners.Cool2vy is a Korean television platform available on mobile, tablet and computer.Its TV application business Yoomob also continued to grow during the first six months to 30 June 2015 helped by its transactional revenue model.Ahead of the annual general meeting, the company said its balance sheet has strengthened with a net cash balance of £0.6m, from £0.4m same time last year.Shares were up 2.67% to 38.5p on Wednesday at 09:02.