Getmobile posts pretax profit of €2.7m

Irish-owned mobile services firm Getmobile this morning reported a pretax profit of €2.7 million last year.

The company said its sales increased by 58.5 per cent last year to over €100.8 million. The profit before tax compares to a loss of €53.9 million after a non-cash goodwill impairment charge of €53.97 million in 2006.

Getmobile, listed on London's AIM and Dublin's IEX markets, said the adjusted earnings per share of 2.36 cent was an increase of over 100 per cent on the 2006 figure of 1.16 cent.

Over the year, the number of mobile phone contracts sold increased to 138,700 from 105,000, and internet sales doubled in 2007.

Getmobile Europe chairman Pierce Casey announced the company was proposing a reverse 10:1 share split so holders will receive one new share for every 10 shares held at its AGM on May 9th.

He said shareholder value is likely to be enhanced by increased trading of the shares in Germany, where the company has its principal internet mobile phone contract site.

He added the company was seeking further acquisitions.

Getmobile is the holding company of Getmobile AG, a Munich-based multi-channel direct seller of mobile phone contracts in Germany.