LONDON (Alliance News) - Payments company Monitise PLC on Thursday said revenue in the second half of its financial year was broadly in line with the first, but it anticipates a decline in sales in the current financial year.
Monitise said revenue in the second half of the year to the end of June was similar to the GBP33.4 million it made in the first half. Cost cuts made by the company mean its earnings before interest, taxation, depreciation and amortisation for the second half turned positive, after the GBP20.2 million loss made in the first half.
However, Monitise said revenue in the year to the end of June 2017 is set to fall year-on-year as the group continues to transition to its new business model, focused on driving revenue from its FINKit financial services technology platform.
Shares in Monitise were down 5.8% to 2.61 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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