27th Sep 2013 13:05
LONDON (Alliance News) - Proxama PLC, a mobile-commerce company, showed drops in revenue and widened pretax losses in its recent half.
Proxama posted revenues of GBP344,344 in the half year ended June 30, down from GBP808,911 in the previous year. The company posted a pretax loss of GBP1.4 million, widened from GBP583,496, as administration costs rose to GBP1.5 million from GBP650,434.
The company was re-admitted to AIM on August 23 after it performed a reverse takeover of Longships PLC.
The company said that it was focused on building its platform, products and services in preparation for increased adoption of Near Field Communications and associated mobile commerce, although it cautioned that the necessary infrastructure and take-up would not be fully established until 2015.
Near Field Communications is a set of standards for smartphones and similar devices to establish radio communication with each other by touching them together or bringing them into close proximity.
Proxama said that it expected to announce relationships with blue-chip customers and partners in the second half of the year.
Shares in Proxama were trading down 9.0% at 6.60 pence Friday.
By Hana Stewart-Smith; [email protected]; @hanassallnews
Copyright 2013 Alliance News Limited. All Rights Reserved.
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