Of Special Interest
16th December 2011
Monitise sees revenues triple
Monitise, who has a first half of its financial year ending on December 31st reported revenues up three fold on a year ago and profit from live operations showing significant improvement. Overall profitability will be "close to break even" with losses on new developments more than wiping out live ops profitability however brought almost to balance by the one-off gain on the acquisition of Monitise Americas.
During the year the number of people using Monitise services has increased from 3m to 5.5m and annual transactions are 330m a year up from 120m a year ago. Transactions are running at 15m a month compared with 6m six month ago.
"Our revenue performance and growing order book clearly demonstrate the momentum of the Monitise business as we head into calendar 2012, the year of the Olympics. We have seen via the increase in activity across our own technology platform how mobile banking has created an exciting and fast-growing new way for consumers to interact with their bank and manage money on their terms," said Monitise Group Chief Executive Alastair Lukies.
He added: "Worldwide interest and activity around mobile money is growing daily. Monitise has positioned itself as the only independent, interoperable, bank-grade mobile technology platform open to deliver services across any market to any device. That gives us a critical role to play as the mobile money market evolves. The market opportunity is huge and we will continue to invest to ensure we will retain our leadership role."