Monitise Has Double-Digit Growth for Third Consecutive Year ~ Shares Up 5%

PUBLISHED: 17 Jul 2012 @ 12:55 | Comments (0) | More info about Lou Gutheil

The share price of Monetise (LSE:MONI) jumped more than 5% in early trading on the London Stock Exchange to 30.50 pence after the world’s leading m-commerce provider announced another projected record performance for their 2012 fiscal year ending 30 June. Full results are to be published on 4 September 2012.

Third Consecutive Double Digit Revenue Increase

Total revenue for the year is expected to be in the area of £34 million, an increase of £20 million over FY2011, more than double last year. This is the third consecutive year that the company has more than doubled its revenue over the previous year. The £34 million eclipses last year’s £14 million, FY2010’s £6 million and FY2009’s £2.7 million. The company expects some £75 million from their order book of over £170 million to turn into revenue in the next twelve months. The company is expecting gross margin to be 66%, up 4% from last year. They are already projecting an increase in gross margin to exceed 70% by the second half of the current fiscal year.

Monetise acquired Clairmail at the end the fiscal year, picking up an order book valued at £270 million.

The Phenomenal m-Business Growth

Monetise now provides m-Business services to more than 300 financial institutions, including a third of the top 50 worldwide and eight of the top 13 in North America. The company handles over £9.6 billion in transactions per week on average.

Executive Perspectives

CEO Alistair Lukies noted that, “The Mobile Money landscape continues to grow at an astonishing rate. As a major global force in Mobile Money, Monitise remains positioned at the centre of this huge ecosystem with its platform, skills and partnerships driving another year of phenomenal growth. Our clear and unwavering strategy is to provide our white-labeled, cloud-based Monitise Enterprise Platform to the world’s leading financial institutions and payments companies, helping them retain their rightful role as the consumer custodian in mobile financial services.”

Duncan McIntyre, Monetise Chairman, observed that “The Monitise team has achieved substantial growth in the financial year 2012 and proven the global demand for a truly bank-grade Mobile Money platform. We believe we have both the leading platform and market position so as the landscape continues to evolve and accelerate we must continue to invest to optimise shareholder value.”

Company Spotlight

Monitise plc is the largest mobile money specialist in the world, delivering product and services to over 15 million customers through more than 300 banks and financial institutions. With strategic partners such as Visa, RBS and FIS, Monetise is providing new technology solutions for secure m-banking, m-payment, and m-commerce. Their enterprise platform and unique network approach was created specifically to function seamlessly for any operator on any device using any network. The company is now leading the market with instant mobile checkout, and has been the first to introduce mobile image recognition and transactional QR codes.

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