IEX and AIM-listed Getmobile has warned of weaker-than-expected market conditions in Germany.
In a trading statement, the company said that German market conditions appear to have been temporarily adversely affected by the impact on consumer spending of higher oil prices and the uncertainty over the direction of economic policy after the recent election there.
Getmobile also said that the start-up of a new sales channel deal had to be postponed at a late date because of a strategic acquisition by the proposed channel partner.
The company said that while the impact of these factors is likely to be short lived, they will hurt sales for the current year.
In today's trading statement, Getmobile also announced a number of positive initiatives. These include the start of selling contracts in the Dutch market and a number of marketing deals in the German market with the Deutsche Bahn rail company, ADAC - Germany's largest automobile club - and Siemens BenQ chain of stores.
The company's statement also indicated that it is negotiating two potential acquisitions and said it hopes to start sales in France in November thought the establishment of a subsidiary company.
'Getmobile, which remains highly profitable and cash generative is confident that the maturation of the recently acquired channels and others currently under development and negotiation will lead to renewed growth in the German market in 2006 and that the foundations have been laid for the successful expansion of the company's strong business model both internationally and into related innovative consumer offerings,' a statement from the company said.
Getmobile operates as an online and direct seller of post paid mobile phone contracts in the German market. The company was formerly known as Fitzwilliam Capital.
