20th Aug 2024 19:10
MobilityOne Ltd - e-commerce payment solutions provider - Sees shares fall after being restored to trading. It reports that revenue in 2023 edges up to GBP241.7 million from GBP233.8 million a year earlier. It swings to a pretax loss of GBP1.4 million from a profit of GBP278,978. Cost of sales in the period rise to GBP229.7 million from GBP221.0 million. Administrative expenses rise to GBP12.2 million from GBP11.9 million. Finance costs climb to GBP236,058 from GBP137,143.
Company anticipates a challenging business environment and remains cautious about the outlook for the remainder of 2024, despite the reported expectations that the Malaysian economy will grow between 4.0% and 5.0%. "This caution is due to rising inflation and increased expenses, including higher administrative, infrastructure, and marketing costs, among other related expenses. Consequently, the group's gross profit margins for its products and services will continue to be affected as it strives to maintain or grow its business."
Current stock price: 2.40 pence, down 11% in London on Tuesday
12-month change: down 47%
By Jeremy Cutler, Alliance News reporter
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