Monitise’s results fail to impress
MOBILE payments company Monitise yesterday blamed a rise in operating costs as it unveiled a loss for the second half of the year.
The company reported a loss before interest, tax, depreciation and amortisation of £10.2m for the six months to the end of December, compared with a £14.7m loss a year earlier.
However, revenue jumped 67 per cent to £46.5m, while gross margin rose to 73 per cent from 72 per cent a year earlier.
And Monitise reiterated its full-year forecast of about 50 per cent growth in revenue and a gross margin of above 70 per cent.
Monitise also said it was confident of securing further investment over the next year.
Recent partnerships include IBM and Telefonica Digital and the firm also procured Visa Europe as an investor.
“During the half, we entered new relationships and deepened existing collaborations with leading players across financial services, payment processing, mobile network operators, technology businesses and retail,” said Monitise chief executive Alastair Lukies. Monitise’s share price closed down 3.2 per cent at 67.7p yesterday.