26th Mar 2018 13:08
LONDON (Alliance News) - Shares in mobile financial services firm Vipera PLC declined on Monday as the company said it expects a loss in 2017, though revenue is expected to grow strongly.
Vipera shares were trading at 6.60 pence each on Monday, down 4.0%.
Vipera is expecting a "small" adjusted underlying loss before interest, tax, depreciation, and amortisation for 2017. This is due to approximate costs of EUR250,000 related to its acquisition of SoftTelecom Desarrollos I Mas DSL, as well as costs booked setting up a subsidiary in Dubai as well as foreign exchange movements.
In 2016, Vipera posted a pretax loss of EUR1.6 million, widened from EUR645,973 in 2015.
However, Vipera said revenue rose 27% year-on-year in 2017 to EUR10.1 million, partly due to the SoftTelecom takeover, which it announced in July. Revenue grew 20% on a like-for-like basis nevertheless, and recurring revenue increased 43% to EUR1.6 million.
The company said growth has come from both new and existing clients, and it looks forward to 2018 "with great confidence".
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