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The next results in September will provide the accounts for the first 6 months of the year. I have no doubt that this has been a period of growth for MBO in Malaysia. While looking at different markets, the world service report https://www.bbc.co.uk/programmes/w3csz7jh provides an indication of the potential for fintech companies like MBO during this period.
The figures we have are from 2019 and according to the last RNS there has been no slowdown due to Covid19 and we know the virus has benefited companies with cashless technology. I suspect Mobilityone is in a much healthier position than we know but we cannot confirm it until we get hard figures. Similarly I expect the market cap and share price to respond positively.
It is true that the UK is a crowded marketplace. However, in their home market of Malaysia, MBO, are also working in a very competitive environment, and have quickly grown year on year. They make their money in a variety of ways, with clients in different industries. As their Malaysian website highlights:
Our core competencies lie in providing a bridge between the service providers to their end consumers using our technology to accept transactions via multiple channels either via mobile phones, Internet, electronic data capture terminals and even via banking channels like Internet banking portal, automated teller machines (ATM) and mobile banking.
Our services are utilised by mobile operators, transportation, financial institutions, hypermarkets, retailers and many other types of services providers requiring payment and transactional technology.
MobilityOne has 2 main business pillars which creates a payment eco-system consisting of more than 2,000 retail points and 8 banking partners (collective coverage of more than 10 million account holders)
This company will keep growing just doing what it does in Malaysia. If they can grab a couple of contracts in the UK from any of the areas it operates in, then I think we will see the market cap approaching its true value.
In a crowded marketplace, it will be interesting to see what they can offer that is innovative.
Recently, the Group incorporated a wholly-owned subsidiary, namely M-One Tech Limited, in the United Kingdom to explore business opportunities such as payment aggregation, electronic payments and e-remittance services in the United Kingdom, areas in which the Group already has the operational experience in Malaysia.
Profit was after tax.
15 June 2020, 09:53Source - SMW
E-commerce payments group MobilityOne said it would swing to a full-year profit, and that its performance had been unaffected by the Covid-19 crisis.
Pre-tax profit for the year through December was seen amounting to £1.18m, compared to a loss of £1.36m on-year. Revenue was seen rising 35% to £169.4m.
'Covid-19 has not negatively affected the financial performance of the group,' MobilityOne said.
'And the directors remain confident on the prospects for the group for the remainder of 2020 particularly in the mobile phone prepaid airtime reload and bill payment business in Malaysia.'
The company said that due to the pandemic, it had been granted an extension to publish its audited results for the financial year ended 31 December 2020 by no later than 30 September.
they look like all buys to me
plus they are working in the uk now.
check rns
Yep, spread narrowing, maybe MM's starting to see a market here.
Heady stuff, selling at 5p.
Maybe start of a re-rate to a more fitting PE. Profit making, covid proof (if not beneficiary), fast growing tech business, directors with massive skin in game, huge and growing customer base. No shortage of reasons to invest here. 20-30 mil would be reasonable on earnings alone imo. Who knows how to value the t/o potential?
Bit of an uplift again. Wonder why the interest now?