Last checked at 26 Oct 2011 07:00
For immediate release 26 October 2011
VIPERA PLC
("VIPERA" or "THE COMPANY")
Trading update
Vipera, the specialist provider of mobile financial services, today issues the following trading statement in respect of the 9 months to September 30, 2011.
Revenues in the nine months to the end of the third quarter, September, were £432,000 versus £250,000 for the 12 months to December 2010. Although this is a substantial increase, it is in fact below the target which we had set ourselves.
We are finding that deals are taking longer to close than we had expected, as banking clients are taking longer to make capital investment decisions. This will have an impact on what we can achieve in the remaining two months of our financial year. During the year we have exercised control over our costs and EBITDA is expected to be in line with our previous expectations.
Nevertheless, our pipeline of prospects is gaining in strength and we are expecting to continue to grow our revenue.
The Company is also bringing forward steps to accelerate our growth by broadening and improving our product offering, in particular by providing an extended m-commerce proposition. This includes exploring a possible acquisition.
We remain confident that the mobile market is at the beginning of a very substantial growth period and we are well placed to profit from it.
-Ends-
Vipera PLC | |
Marco Casartelli | Tel: +39 02 7214 2424 |
Roger Mitchell | Tel: +39 02 7214 2424 |
Martin Perrin | Tel: +44 (0) 7785 505 337 |
Beaumont Cornish Limited (Nomad) | Tel: +44 (0) 20 7628 3396 |
Roland Cornish | |
Felicity Geidt | |
Daniel Stewart & Company plc (Broker) | |
Colin Rowbury | Tel: + 44 (0) 20 7776 6550 |
Media Enquiries | |
Hudson Sandler Charlie Jack / George Parker |
Tel: + 44 (0) 20 7796 4133 |
Notes to Editors
Vipera is an international mobile commerce provider with a focus on the Middle Eastern market, where it has established itself as the preferred partner of national banks and global technology businesses.
Vipera provides software and services to banks and financial institutions to enable mobile access to personal financial services. Additionally Vipera's software enables Government and corporate entities to allow their services and consumer transactions to take place on mobile platforms.
Vipera is ideally placed to leverage its significant success to date and seize further share of this market, buoyed by the growth of smart phones, forecast by 2013 to grow to 977 million users and in revenue from $71bn to $862 billion.
Vipera's headquarters are in Milan and it listed on the London Stock Exchange (AIM: VIP.L). For further information, please visit www.vipera.com