30th Jul 2014 09:51
LONDON (Alliance News) - Proxama PLC said Wednesday that it will post a loss before interest, tax, depreciation and amortisation in line with market expectations for the full-year, as revenue rose slightly in the half-year to the end of June.
In a trading update the mobile commerce company said its revenue will be around GBP350,000, up from GBP344,344 in the previous ear.
Proxama expects a much stronger second-half, forecasting that revenues will be doubled on reported figures in the first-half, but below its initial expectations. It expects revenue to grow "substantially" in 2015.
The company invested in its two core platforms, CardGateway and TapPoint in the first-half, as well as bolstering its business development team.
Proxama said it had a strong sales pipeline for the remainder of 2014, and was in negotiations with retail banks in the UK and Europe.
"Our sales pipeline is increasing significantly and we expect this will continue due to the impact of the new additions to our business development team in Europe and the USA," said Chief Executive Neil Garner in a statement.
Shares in Proxama were trading down 3.0% at 3.25 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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