Mobile Tornado is taking significant steps in its corporate growth through a strategic £425k share placement.
- The company aims to consolidate its research and development centres, enhancing operational efficiency.
- Funds from the placement will support business development initiatives, including a launch into the APAC market.
- An experienced business development manager has been appointed to spearhead the APAC region expansion.
- Despite financial setbacks, the company remains optimistic about scaling up its operations and expanding its market reach.
Harrogate-based communications firm Mobile Tornado is actively pursuing growth through a strategic share placement valued at £425,000. This move is set to fund critical initiatives, including the consolidation of its research and development centres. The strategic funding aims to streamline operations, resulting in cost savings while maintaining the quality of service delivered to clients and partners.
A key aspect of this initiative is expanding Mobile Tornado’s reach into the APAC region, a significant step marked by the appointment of a seasoned business development professional in Taiwan. This expansion is expected to bolster the company’s presence in Asia, tapping into new markets and strengthening its global footprint.
The company’s recent financial performance indicated a challenging period with a reported 16% decrease in revenue amounting to £1.06 million for the first half of 2024. Furthermore, they experienced a pre-tax loss of £600,000. Despite these challenges, Jeremy Fenn, Chairman and CEO, remains upbeat about the company’s prospects. He highlighted ongoing discussions with potential partners and customers across key regions, including South America, Africa, and the Middle East.
Fenn emphasised that the funding is pivotal for enhancing current business operations and facilitating substantial operational cost savings. These savings are expected to be realised through the consolidation of research and development efforts, targeted to be completed by year-end.
Mobile Tornado’s strategic initiatives and financial planning underscore its commitment to growth and market expansion.
