CTORIES publisher Yell Group yesterday said it signed an agreement with cloud computing firm Netbiscuits to develop an application that will allow customers to access online shopping and other sites on mobile devices.
Yell’s shares, which have plummeted by nearly three-quarters over the past year, were up 13 per cent after the announcement.
“Local entrepreneurs and business operators will be able to extend their digital marketing and commercial activities by offering customers new mobile services and experiences, regardless of the platform or device,” the company said.
Yell, which has tie-ups with companies like Microsoft, also said it expects to sign additional partnerships to further develop its online marketing platform.
The company, whose net debt stands at £2.7bn against a market capitalisation of about £103m, said it did not expect to breach any of its covenants this financial year.
Yell held an investor day yesterday to draw attention to progress it is making with Microsoft branding it an “exciting new strategy aimed at transforming the Group into being a leader in the emerging local eMarketplace for consumers and small and medium enterprises.”