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LONDON (Alliance News) - MobilityOne Ltd on Thursday reported a fall in pretax profit in 2015 due to higher costs, but revenue rose thanks to growth in the Malaysian business.
The e-commerce infrastructure payment and platform provider said its pretax profit in 2015 fell to GBP192,320 from GBP239,999 in 2014, despite revenue rising to GBP65.2 million from GBP53 million.
Profit was hit by increased administration and operating expenses, but revenue grew on the back of growth in the mobile phone prepaid airtime reload and bill payment business in Malaysia. The contribution to the group from the business in the Philippines remained "insignificant", MobilityOne said.
"The company expects an improved trading performance in 2016 and is currently exploring the opportunity to expand its e-payment solutions and services to capitalise on the efforts of the Malaysian central bank to encourage switching from paper-based payments to e-payments," MobilityOne said in a statement.
Shares in MobilityOne were trading up 3.2% at 4.00 pence on Thursday afternoon.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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