MobilityOne confident as gross profit rises

(Sharecast News) - E-commerce payments and platform provider MobilityOne said in an update on Wednesday that its unaudited revenue increased 3.66% to £255.71m in 2021.

The AIM-traded firm put the increase down to higher sales in its mobile phone prepaid airtime reload and bill payment business.

Gross profit improved to £13.66m for the 12 months ended 31 December, from £12.96m a year earlier, while profit after tax was £1.51m, down from £1.61m.

Cash and cash equivalents at year-end increased to £4.67m from £4.42m.

"The directors remain positive on the group's outlook for 2022, noting that the e-payments industry is expected to continue to grow in Malaysia and that the group will continue to enhance its product offering," the board said in its statement.

MobilityOne said it expected to publish its annual audited report and accounts for the year ended 31 December at the end of June.

At 1248 BST, shares in MobilityOne were down 9.89% at 8.56p.

Reporting by Josh White at Sharecast.com.

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