Buongiorno Profits Up on Lower Revenues

­Italy based mobile content distributor, Buongiorno has reported a 4% fall in its first half revenues compared to the previous year. Revenues came in at EUR 127 million, although the company said it saw a stronger performance in the second quarter of the year.

The EBITDA was approximately EUR 17.3 million, down on the EUR 18.6 million a year ago. Net profit however was up by 21% to EUR 5.4 million.

The Group strengthened its equity structure, decreasing its gross debt, which went from EUR 85 million at the end of 2009 to EUR 73 million at the end of June 2010, maintaining net liquidity, which went from EUR 38.7 million at the end of 2009 to EUR 37.5 million at 30 June 2010.

Commenting on the results, Andrea Casalini, CEO of Buongiorno said: "We are satisfied with our performance in the first half of the year, and in particular of the second quarter, which marks a positive trend in the growth of business revenues."

"The business lines contributing to this increase are B2C and the new initiatives, and to support them we confirm we will proceed, also in the second half, to spend significantly for new clients' acquisition campaigns that guarantee growth and profitability in the medium term, even though it will mean some sacrifice in profitability this year. We are convinced that the Mobile Internet era is opening relevant business opportunities for Buongiorno and we would like to catch them in a perspective of profitable and sustainable growth."