Zingmobile narrows losses 93% in 2009

Singapore-based mobile content developer Zingmobile (ASX:ZMG) narrowed its losses 93% to S$680,500 ($530,000) in 2009, the company revealed today.

While revenue fell 36.7% to $5.3 million, the cost of sales declined by 69% to S$2.8 million.

Company directors said they were confident of the group’s ability to operate as a going concern, due to having enough funds to cover its 2010 operating budget.

The company has also maintained a positive gross profit margin in the first two months of this year.