Italian mobile content distributor Buongiorno has (BIT:BNG) has announced its financial figures for the first half of 2010.

Consolidated gross revenues were €128.4 million ($171 million), down 4 percent year-on-year.

Revenue was €127 million ($169 million), also down four percent.

Performance during Q2 was stronger than Q1 however with revenues up 4 percent year-on-year, and 13 percent quarter-on-quarter to €67.7 million ($90 million).

H1 earnings (pre-EBITDA) were €17.3 million ($23 million), down 7 percent year-on-year.

Net consolidated profit was €5.4 million ($7.2 million), up 20 year-on-year.

Balance of power

The company noted that its marketing expenses had increased 16 percent over the six months year-on-year, while its B2B business - which is dependent on carriers, media groups and brand spending - suffered from significant slowdown, and specifically in the interactive TV business.

The good news was that B2C subscriber numbers reached 11.5 million, while its H1 revenues were up 11 percent to €71.9 million ($96 million).

Performance was particularly strong in Brazil, Mexico, Russia and Germany. The French and Italian markets were down 6 percent.

The company is pushing ahead with the release of its Hellotxt social networking utility for iPhone and iPad, as well as its Applistars iPhone app brand.

Buongiorno reduced its net debt by €12 million ($16 million) to €35.4 million ($47 million). Gross debt stood at €73 million ($97 million) at the end of June.

[source: Buongiorno]