12th Jan 2017 08:40
LONDON (Alliance News) - Mobile payments company Bango PLC said Thursday it doubled its revenue in 2016, as end user spend on its payment platform almost tripled.
Bango said its revenue in 2016 was GBP2.6 million compared to GBP1.3 million in 2015. The firm said GBP2.4 million of that revenue was the product of user spending on its platform, with GBP200,000 from platform fees.
Bango also reported exit end user spend on its platform increased to GBP195.0 million in 2016 from GBP67.0 million.
The company noted its operating expense for 2016 were in line with expectations at around GBP5.0 million, plus acquisitions costs from its purchase of BilltoMobile Inc of around GBP300,000.
Bango will release its final results for 2016 on March 14.
Shares in Bango were up 12% at 86.95 pence Thursday morning.
By Adam Clark; [email protected]
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