17th Dec 2015 08:35
LONDON (Alliance News) - Mobile payments company Proxama PLC Thursday said it has won a new USD1 million contract with an undisclosed US financial services company, and said it had seen a stronger second half of 2015.
Shares in Proxama were up 45% at 0.799 pence early Thursday morning, having hit 0.90p at the open, one of the biggest gainers in AIM.
Proxama said that both its digital payments and proximity marketing divisions had seen a stronger second half, resulting in revenue of over GBP3 million for its full year. For 2014 the company reported revenue of just GBP650,978.
"The measures we have taken to reduce costs and the new marketing initiatives are beginning to take effect, securing good growth in the second half and giving the group better revenue visibility for 2016 and beyond. Our pipeline of opportunities remains promising and accordingly we are confident that the group is very well positioned to deliver further growth," said Chief Executive Officer John Kennedy in a statement.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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