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Mobile-banking software firm Monitise's EBITDA loss widens

Tue, 17th Feb 2015 07:29

Feb 17 (Reuters) - Monitise Plc, a Britishmobile-banking software maker, said first-half group EBITDA losswidened, hurt by its switch last year to a subscription modelfrom one based on licences.

Monitise, which put itself up for sale last month, saidinterest, taxes, depreciation, and amortisation (EBITDA) losswidened to 30.8 million pounds ($47.3 million) for the sixmonths ended Dec. 31, from 10.2 million pounds a year earlier.

Revenue fell 8.8 percent to 42.4 million pounds.

The company also said its strategic review had seen many"constructive discussions with market-leading players"interested in its business. ($1 = 0.6504 pounds) (Reporting by Noor Zainab Hussain in Bengaluru; Editing byGopakumar Warrier)


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