6 Jul 2015 06:59
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Don't have an account? Click here to register.Monitise predicts positive earnings after massive write-offs
Fri, 12th Feb 2016 10:45
(ShareCast News) - First-half results from Monitise showed underlying losses cut by a third as the painful restructuring of the financial software group grinds towards what is expected to be a profitable second half.However, reported operating losses before tax ballooned to £211.6m compared to £58.1m a year before, with sales slipping to £33m from £42m.As they moved from the failed attempts to commercialise a mobile banking app towards a wider focus on its FINkit cloud-based software that allows finance sector customers to build and run secure and compliant products and services.Management have written off £167m from the value of its old non-cloud assets."The essential transition to cloud-based services and sustainable recurring revenues, continues to be very challenging," said chairman Peter Ayliffe, who is now overseeing his third chief executive in a year.Chief executive Lee Cameron, promoted from chief commercial officer in September, said the company had taken "tough decisions" and "defined a clear path to take the business forward".Total costs were cut to £53.6m in the first half, down from £69.4m and projected to reduce by roughly £3m per month in the second half.Staff numbers stood at 646 at the period end, down from 950 a year before and 850 at the year end.As a result, the company's existing businesses are expected to generate positive EBITDA in the second half of the year and onwards."Investment in FINkit will be proportionate to the timing and scale of contracts signed and we will continue to evaluate all assets in order to preserve and maximise value for all stakeholders," Cameron said.Shares in Monitise, having fallen from a peak of just over 80p to below 1.7p over the last two years, bounced to 1.81p by 1400 GMT on Friday.
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6 Jul 2015 06:50
Mobile-banking software maker Monitise warns on full-year revenue
July 6 (Reuters) - British mobile-banking software maker Monitise Plc said it expected revenue for the year ended June to be lower than the previous year. The company, which recently formed a joint venture with Spanish bank Santander to invest in financial technology, said it expected reven
Read more1 Jul 2015 15:33
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BUZZ-U.S. STOCKS ON THE MOVE-Chubb, Tetralogic Pharma, Ballard Power
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Read more1 Jul 2015 10:52
UPDATE 1-Santander forms fintech joint venture with Monitise
* Shares in Monitise up 9 percent * Two companies will invest up to 10 mln stg in venture * Monitise gets multi-million pound upfront licence fee * Venture to be led by Santander's head of innovation (Adds details, background, share movement) By Matt Scuffham and Noor Za
Read more1 Jul 2015 07:39
BUZZ-Monitise: Up on news of fintech JV with Banco Santander
** Mobile banking software provider Monitise up 7 pct after co launches JV with Santander to invest in fintech businesses ** JV to invest in firms with the potential to "redefine and support financial services globally" ** Cos to invest 10 mln stg ($15 mln) each over 2 yrs ** Mo
Read more1 Jul 2015 06:35
Santander forms fintech joint venture with Monitise
LONDON, July 1 (Reuters) - Spanish bank Santander and British mobile banking software provider Monitise have launched a joint venture to invest in fintech businesses, they said on Wednesday. The venture will invest in firms with the potential to "redefine and support financial services gl
Read more24 Jun 2015 12:34
Monitise drops 5% after Jefferies downgrade to 'hold'
Shares in mobile banking software group Monitise slumped 5% on Wednesday after Jefferies downgraded the stock to 'hold' from 'buy' and slashed its price target to 1,500p from 3,600p. "With new customer wins thin on the ground and recent wins likely to take some time to convert into material end-user
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