28th Jun 2019 18:15
(Alliance News) - E-commerce firm MobilityOne Ltd on Friday reported a widened annual loss despite strong revenue growth in the e-payment sphere.
For 2018, MobilityOne's revenue climbed 47% to GBP125.5 million, with the pretax loss GBP1.6 million from GBP613,238 the year before.
Revenue growth mainly came from e-payments, particularly in the mobile phone prepaid airtime sector and bill payments. The loss came mainly due to operations in Bangladesh.
Looking ahead, the firm expects operations in Malaysia to continue to grow, and MobilityOne will also be looking at expanding its e-money business, targeting students.
Overall, despite an expectations for continued costs in Bangladesh, the company's outlook for 2019 is confident.
Shares were untraded on Friday, and were last quoted at a price of 3.25 pence each.
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