23rd Jan 2014 09:28
LONDON (Alliance News) - Mobile commerce and payment software solutions firm Proxama PLC Thursday said it expects revenue for the full-year ended December 31, 2013, to be in the region of GBP830,000, with an earnings before interest, taxation, depreciation and amortisation loss of GBP3.6 million as anticipated.
Proxama said it is building relationships with key infrastructure owners such as CBS Outdoor and Posterscope in the media industry, wallet providers such as ISIS in the US, as well as wallet owners across Europe.
There has also been a strong interest from the banking sector, it added.
The firm said it believed the adoption of its solutions will accelerate throughout 2014, allowing for rapid revenue growth in 2015 "as our customers move from pilot based projects to full commercial release and revenue streams increasingly shift from 'fee for service' to 'event based' revenues."
Financially, Proxama recently completed a fundraising of GBP8.6 million and is now moving forward with its plan to expand its UK and international sales operations.
The firm will publish its results in April.
Proxama shares were down 14% at 4.35 pence Thursday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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