Vipera Upbeat Even as Loss Widens -- Update

(Updates throughout, adds detail.)

By Simon Zekaria

LONDON--Shares in Vipera PLC (VIP.LN) climbed Tuesday after the provider of mobile financial services said it is looking to the remainder of the year with optimism, even as it posted a widened interim net loss on lower revenue.

The company made a net loss of EUR253,000 ($286,000) in the six months ended June 30, compared with a loss of EUR274,000 in the year-earlier period. Revenue fell to EUR2.63 million from EUR2.90 million.

"We are very pleased with the strong progress the company has made over the last six months. We have secured some significant contracts for major customers," said Chief Executive Marco Casartellin, naming Deutsche Bank AG (DBK.XE) in partnership with card company Mastercard Inc. (MA) and the Government Savings Bank of Thailand.

Chairman Luciano Martucci said the company's full-year revenue will show an increase year-over-year.

At 1030 GMT, Vipera shares were up 9.4% at 4.4 pence, valuing the company at GBP10 million ($15.4 million). Sanlam Securities analyst Amisha Chohan said the group is well placed to grow, providing an opportunity for investors.

Write to Simon Zekaria at [e-mail]

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September 15, 2015 07:12 ET (11:12 GMT)

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