13th Jan 2021 14:34
Bango PLC - mobile commerce company and direct carrier billing service provider - Says 2020 revenue will be ahead of market expectations, coming in at GBP12.2 million, which is 70% higher year-on-year from GBP7.2 million. End User Spend grew to GBP1.9 billion from GBP1.1 billion. Adjusted earnings before interest, taxes, depreciation and amortization is expected to exceed GBP4 million versus GBP450,000 in 2019.
Chief Executive Paul Larbey says: "This trading update clearly demonstrates strong growth for Bango and for our customers during a tumultuous year."
"Global lockdowns have driven more users online and accelerated the adoption of digital payments by merchants and consumers, which will continue to drive-up end user spend. Merchants and resellers are partnering more successfully through Bango to offer valuable, third-party product bundles to more customers. The pressure on advertisers to deliver revenue makes Bango Audiences even more compelling as a new way to target paying customers," Larbey adds.
The CEO says the firm is in a stronger position than ever at the start of 2021.
Current stock price: 180.08 pence
Year-to-date change: up 8.2%
By Paul McGowan; [email protected]
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