Sales rocket at Monitise

Sales rocket at Monitise

Mobile banking company Monitise has said it expects sales to be almost three times higher than a year ago when it announces its interim results in February.

In a pre-close statement released today [14 December], it said revenue for the six months to 31 December 2011 will be approximately £15m, up from £5.3m for the same period a year ago. However, the company said its half year losses will be 'broadly in line' with its 2011 financial year. For the year ending 30th June 2011, it lost £14.5m. Gross margins are expected to be the same as for 2010 at 62%.

The company said it now has more than 5.5 million customers, compared to three million who had signed up by January 2011. Monitise is processing 330m transactions a year, compared to 120m a year ago.

Group chairman Duncan McIntyre said: 'Monitise really has had an exceptional 2011 as a company. Trading for the group has never been better and we enter the calendar year 2012 with great momentum. The board will continue to review strategic options to ensure the value that we believe Monitise is creating is being recognised and maximised.'

Written by Mobile Today
Mobile Today

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