Edison Investment Research - Goodwood Capital (GWC) Update: Singapore gateway

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Edison Investment Research

Update: Singapore gateway

Snakk has published its outline results for the year, with revenues ahead 92% (117% adjusted for currency movements). The group is very much in the investment phase of scaling up, opening new local offices and extending its customer base, with sufficient cash resource to continue the expansion. It is now making early-stage moves into the key Singaporean market. Higher levels of investment mean break even is pushed out, but the potential returns are higher. The shares are priced below global peers as investors wait for clearer indications that those returns will be realised.

17/06/2014 5 EN

Underlying

Goodwood Capital

Snakk Media Limited. Snakk Media Limited is engaged in the provision of end-to-end mobile media solutions. The Company offers mobile phone enabled promotions and marketing services. The Company is in the business of developing and implementing mobile marketing campaigns that enable brands and advertising agencies to find and reach customers using applications, games and social media on smartphones, tablets and other mobile devices. The Company's smart products and technology platforms enable it to deliver smartphone, tablet and cross-screen advertising campaigns. It offers a range of media products to target audiences through data, including location, content and social signals. It offers various location solutions that enable mobile geo-location campaigns delivery. Its video offering includes video formats, such as Smart In-Banner Video and Zero Load High Definition (HD) Video. The Company offers TV Sync, which is a multi-screen product to match mobile campaigns with television commercials.

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NZSNKE0001S9 NZX New Zealand

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Snakk Media has issued its Q3 KOMs, which are broadly consistent with its full-year targets, with an outperformance of the compensation to revenue ratio and a higher staff turnover than indicated. This figure, though, is highly volatile due to the small numbers involved. The company is still undergoing a review of its capital strategy and the share price is unlikely to recover until the outcome of this is published.

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International Public Partnerships - Consistently and responsibly delivering

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Update: Singapore gateway

Snakk Media - Broadening out the offering

Snakk Media - Loss significantly reduced to near breakeven

Snakk Media - Improved cash performance

International Public Partnerships - Consistently and responsibly delivering

Portobello SpA - Focus back on the operations

Intralot - Focus on business development in FY24

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