Megabuyte - Technology sector intelligence

Hutchsion 3UK has now published its accounts for calendar year 2009, providing much more detail than the sketchy summary provided by the parent in March (Premium Plus subscribers see here). The company is barely EBITDA profitable, still burning cash, and has net debt of £11.6bn, £2,077 for each and every subscriber. Conditions have probably got worse subsequently. A sale to O2 or Vodafone looks the only viable long term solution.  See Newswire Plus for more details, whilst Premium Plus readers can see the company profile here.

Anite’s continuing long term evolution

Anite has put out a reasonably upbeat IMS for Q1 (ending July), suggesting that the momentum evident at the end of last financial year (Premium Plus readers see here) has continued into this year. Trading has been above last year (albeit a weak comparator) and in line with expectations, with wireless above and travel below last year in terms of revenues and profitability. Global momentum behind 4G LTE is helping the rebound after a tough FY10. Newswire Plus has more.

System C can go full circle; but how long will it take?

Supplier of consulting services and software to the UK healthcare sector System C has issued what many believed was an inevitable profit warning. As the National Programme is scaled back so System C’s consulting activities are being hard hit; the statement notes that revenues from this source will be a third lower in the year to May 2010. See more in Newswire Plus.

Mobile Streams shares up 3x in a week

As flagged in its July update, mobile content provider Mobile Streams has put in a creditable first half performance, with revenues up 20% to £4.3m and a move to (slight) profitability. The company has also launched a new mobile ‘social content discovery service’, Appitalism, which has generated some excitement, with the shares almost trebling in the last week. See Newswire Plus for more details.