StockMarketWire.com - Mobile Tornado, an instant communication mobile solutions provider, has reported an expected shortfall in full year revenues for 2019 due to a delay to the full deployment of its solution with a government agency and a major public utility in Israel.

In a trading update, the company announced the directors currently expect revenues for the six months to 31 December 2019 to be approximately £1.8m, with an approximate EBITDA breakeven position for the period.

Based on unaudited management accounts and subject to audit, the full year revenues for the year ended 31 December 2019 are expected to be approximately £3.3m, with an EBITDA loss of approximately £0.3m, which is below current market expectations.

Mobile Tornado said that while the commercial terms for the two deals have been agreed, and significant development work completed for each customer, full deployment of devices to their field teams has been delayed until the early part of 2020.

Mobile Tornado chairman Jeremy Fenn said: 'Whilst the expected outcome for the financial year is below what we had hoped, I am pleased to report that the business achieved a breakeven EBITDA position in the second half of the year for the first time.

'The pipeline of pending orders and opportunities reflects the company's broader product offering and the growing global market for PoC solutions.'




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