ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

MPAY Mi-pay Group Plc

1.20
0.00 (0.00%)
Last Updated: 00:00:00
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Mi-pay Group Plc LSE:MPAY London Ordinary Share GB00B0N59376 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.20 1.00 1.40 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Mi-Pay Group PLC Trading Update (0558G)

03/08/2016 7:00am

UK Regulatory


Mi-pay (LSE:MPAY)
Historical Stock Chart


From Mar 2019 to Mar 2024

Click Here for more Mi-pay Charts.

TIDMMPAY

RNS Number : 0558G

Mi-Pay Group PLC

03 August 2016

This announcement contains inside information

3 August 2016

Mi-Pay Group plc

("Mi-Pay" or the "Company")

Trading Update and Notice of Results

Mi-Pay (AIM: MPAY), the leading provider of outsourced and fully managed digital transformation and mobile payment solutions to Tier 1 Mobile Network Operators and Mobile Virtual Network Operators, is pleased to provide a trading update for the six months ended 30 June 2016.

The Group has continued to see growth and efficiency improvement across its business. Transaction value processed in H1 2016 increased by 34% to GBP39 million compared to H1 2015, leading to an expected total revenue for H1 2016 of GBP1.6 million. This growth has been achieved whilst maintaining high payment success rates and low fraud levels. Transaction revenue growth of 9% was lower than our volume growth of 34%, as one customer, on renewal opted to pay the merchant acquiring fee directly rather than through the Mi-Pay contract which now covers our highest value services. Our transaction growth and focus on the efficiency of delivery of our services therefore has enabled us to deliver an expected 33% increase in gross profits to GBP1.0 million (H1 2015: GBP0.7 million), importantly showing a 13 percentage point improvement in gross margins to 62%. Combined with our continued control of administrative expenses we expect our adjusted operating loss* to improve by GBP0.6 million to GBP0.2 million versus the six months to 30 June 2015. The Company's cash position remains strong and above management expectations at GBP3.4 million as at 30 June 2016.

For the full year, we expect transaction value processed to be in the region of GBP80 million (2015: GBP65 million). Together with our current visibility of professional services projects, we expect total revenue for 2016 in the range of GBP3.2 - GBP3.5 million with gross margins expected to be in line with those achieved in H1 2016. The Board is confident that good progress is being made towards profitability and cash flow break even.

The Company will publish its half year results for the six months to 30 June 2016 on 21 September 2016.

For further information, please contact:

 
 Mi-Pay Group      IFC Advisory       Zeus Capital 
  plc 
 Tel: +44 207      Tel: +44 207 653   Tel: +44 161 831 
  112 2129          9850               1512 
 Seamus Keating,   Graham Herring     Nick Cowles 
  Chairman 
 John Beale, CFO   Tim Metcalfe       Jamie Peel 
 

About Mi-Pay Group

Founded in 2003, Mi-Pay Group enables clients to transform their customers' payment journey and move them from paper to digital, improving the overall customer experience and delivering more choice and flexibility for pre-paid customers. Our product offering provides the infrastructure to enable pre-paid mobile devices to be topped up via a variety of channels such as websites, mobile applications and social media applications. Customers include Mobile Network Operators (MNOs) and Mobile Virtual Network Operators (MVNOs). Our fully outsourced online payments solutions are enhanced by a fully integrated suite of risk management tools to provide the highest level of payment fraud management and data security for our clients and their customers. Mi-Pay sells, integrates and operates its products and solutions on a global basis. For further information, please visit www.Mi-Pay.com or the contact details as shown above.

*Adjusted Operating loss defined as Operating Loss for the period before charging share based payments and non-recurring expenses directly attributable to investment, non-operational activities and group reorganisation.

This information is provided by RNS

The company news service from the London Stock Exchange

END

TSTPTMRTMBJMBBF

(END) Dow Jones Newswires

August 03, 2016 02:00 ET (06:00 GMT)

1 Year Mi-pay Chart

1 Year Mi-pay Chart

1 Month Mi-pay Chart

1 Month Mi-pay Chart

Your Recent History

Delayed Upgrade Clock

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

Support: +44 (0) 203 8794 460 | support@advfn.com