31st Jan 2014 13:12
LONDON (Alliance News) - eServGlobal Ltd Friday said it swung to a pretax profit in its last financial year, confirming figures published in December, driven by improved revenues, lower costs and a foreign exchange gain.
The mobile payments company Friday said it made a AUD4.5 million pretax profit for the year ended October 31, compared with a AUD15.4 million loss the year prior, after revenue increased by AUD2.9 million to AUD31.0 million.
eServGlobal said it made an AUD8.0 million foreign exchange gain, which compared favourably with last year's AUD3.4 million loss, while administration expenses and finance costs also fell.
Managing Director and Chief Executive Paolo Montessori was optimistic on the company's preparedness to meet mobile operators' requirements for a more holistic approach to the market.
"As the market matures, a key trend is the desire for mobile operators to seek a more holistic and considered approach to their mobile money offering so as to ensure a seamless service across all deployments and customers, in addition to realising cost efficiency benefits. eServGlobal is ideally placed to benefit from this trend towards a single vendor strategy," Montessori said in a statement.
"Our end-to-end solution allows operators to choose one technology platform to meet all their needs from recharge through to basic mobile money and more advanced mobile financial services. Our modular approach is also well-suited to operators or financial service providers who need a solution which can grow as their market matures," Montessori added.
In December, eServGlobal said it has entered a joint venture with MasterCard and BICS, to create HomeSend, which will enable consumers to send money to and from mobile money accounts, payment cards, bank accounts or cash outlets - regardless of their location or that of the recipient.
eServGlobal shares were Friday quoted at 46.40 pence, up 0.90 pence about 2.0%.
By Samuel Agini; [email protected]; @samuelagini
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
eServGlobal