Accessories Retailer, Mobile Fun Seeking Investor
Published on: 19th Nov 2012
Note -- this news article is more than a year old.
By: Ian Mansfield
The internet based mobile phone accessories retailer Mobile Fun says that it is seeking an outside investor or a trade sale of the company to fund further overseas expansion plans.
Founded in 2000, the online retailer has appointed corporate finance firm Altium Capital to advise on a possible trade sale.
In the financial year ending 31st March 2012, Mobile Fun's total revenue exceeded £10 million. For year ending 31st March 2013, the Company is on course to launch 20 new countries and hit sales of £12+ million with a predicted EBITDA of £1.2 million.
Mobile Fun's international sales rose by 161% in the last financial year.
Managing Director Mohammed Hussain aims to build the business to achieve £25 million annual retail sales by 2017, with accelerated international expansion a central part of his strategy.
Mohammed Hussain commented: "We typically receive several approaches a year from both private equity and trade buyers in the UK and from overseas. We feel that the timing is now right to find new shareholders for our growing and profitable online business."