Share Prices & Company Research

Market News

30 Jan 2019 | 07:30

Mi-Pay to narrow earnings losses as sale rise 10%

Mobile payments group Mi-Pay said it expected its annual operating losses to narrow after it boosted sales and cut costs.

Operating losses for the year through December were seen amounting to £0.2m, compared to losses of £0.6m on-year.

Revenue was expected to rise 10% to £3.0m, more than offset by administrative expenses that the company said were albeit lower on-year.

Mi-Pay said it had achieved underlying profitability during the second half of the year, a key management target.

'The improved performance seen in the second half was a result of delivering a new revenue channel for payment fraud management through the leverage of our in-house technology, a continuing reduction of our operating cost base and strong growth across our existing clients,' chairman Michael Dickerson said.

'We expect to see this growth continue as the e-commerce and digital channels increasingly become our clients' core strategic focus for customer engagement and our new fraud management services continue to expand.'



Story provided by StockMarketWire.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.