LONDON (Alliance News) - MobilityOne Ltd on Tuesday said it expects its performance in the second half of 2015 to continue to be favourable as it reported a swing to a pretax profit for its first half, notwithstanding a cautious economic outlook in Malaysia.
The Malaysia-focused electronic payments provider reported a pretax profit of GBP130,185 for the half year to end-June, swung from a pretax loss of GBP29,526 the year before, as revenue rose to GBP31.3 million from GBP23.5 million.
MobilityOne attributed its revenue growth to a stronger performance from its existing mobile phone prepaid airtime reload and bill payment business in Malaysia. Additionally, more than 1,000 new agent banking points were introduced by one of its banking partners in Malaysia, which helped to boost revenue.
The company said that the contribution from its operations in the Philippines remained "insignificant", whilst its international remittance services did not perform as expected and continued to incur losses.
Shares in MobilityOne were untraded Tuesday morning. It last closed at 2.75 pence.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Mobilityone (MBO)