LONDON (Alliance News) - Mi-Pay Group PLC, the AIM-listed mobile payments provider, on Wednesday said South East Asia remains a target for long-term growth.
Its pretax loss narrowed to GBP1.4 million in 2015, from GBP4.3 million a year earlier, Mi-Pay said, as revenue increased to GBP3.0 million from GBP2.7 million, and administrative expenses fell to GBP3.1 million from GBP5.4 million.
The company's revenue from customers comes from processing transactions for clients and providing them with professional services. Customers include both mobile network operators and mobile virtual network operators.
Transaction services revenue rose to GBP2.3 million from GBP2.0 million, while professional services revenue rose to GBP757,044 from GBP665,354.
Seamus Keating, non-executive chairman, said the South East Asia region remains a target for longer-term growth for the company.
Chief Executive Officer Michael Dickerson said: "We have continued to develop our relationships in Asia, and saw our first revenues from the Philippines which remains a potentially high-growth market. Despite slow growth during 2015 we remain optimistic in its long-term growth prospects."
Shares in Mi-Pay were down 4.2% at 23.00 pence on Wednesday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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