Synchronica says revenue from recent orders to be recognized in 2009, year-end 'very active'

Synchronica (AIM: SYNC) has said it has had an “active year-end,” having signed contracts and delivered orders to customers during late December, expecting the related revenue to be recognized in 2009.

The company secured its sixth order for its flagship push email product Mobile Gateway in Africa and the 13th operator contract in 2009 last week.

According to a report from UK-based telecommunications publisher Blycroft Publishing, Africa’s mobile phone market grew by 25% in 2008 with 74 million new subscribers to take the total number to 370 million people. The trend is expected to continue with the mobile phone penetration expected to rise from the current 37% to more than 60% in 2012.

The company announced its fifth contract won in Africa in mid-November, prompting broker FinnCap to issue a research note on the company titled “Momentum in Africa,” which highlighted the market’s growth prospects. The broker said the key message sent by the deal was that Synchronica and its channel partners were well positioned to benefit from the growth in this territory where the number of subscribers, networks and handset grew at a fast pace.

The company plans to release an update on trading for the full year later this month. http://www.proactiveinvestors.co.uk/companies/news/11861/synchronica-says-revenue-from-recent-orders-to-be-recognized-in-2009-year-end-very-active-11861.html