RE: MBO7 Jan 2026 09:54
It’s important to note that:
No revenue or earnings are expected from the new Islamic banking business in 2026, it’s a long-lead, future project.
Also,for the full year ended 31 December 2024, MobilityOne reported a net loss of about £3.45 million after tax, meaning it did not make a profit for that year.
For the first half of 2025 (six months to 30 June), it also recorded a loss after tax of £1.14 million, though this was smaller than the loss in the same period the previous year.
Profitability is the challenge: Costs, such as administrative expenses, cost of sales, and associated company losses, have kept the company in the red.
Although you are right about the revenue of £230.2m, however, these guys are still in the loss.
Like you say, these guys had what, near 20 years in the business but still failed to make a profit.
I do see some potential here only because they have £230M of revenue, but it's not enough to warrant a buy in my opinion. Whether that will change further down the line would depend on if they can reduce expenses and admin costs.
It's actually quite worrying that they are not in profit despite having £203M of revenue.
I would also like to point out that the Islamic finance is just a conditional approval for an Islamic digital banking arm in Labuan, Malaysia. It means that the operation limits to Malaysia.
Anyway, I'm sure people can do their own research and due diligence.
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