15th Sep 2015 07:48
LONDON (Alliance News) - Shares in mobile financial services provider Vipera PLC rose Tuesday after it expressed optimism for 2015 due to an acceleration in growth it is seeing at the beginning of the second half, despite reporting a slightly widened pretax loss for the first half.
For the half year to end-June the company posted a pretax loss of EUR525,376, widened slightly from EUR320,977 a year before, as revenue declined to EUR2.6 million from EUR2.9 million.
Although revenue in the first half was down on the previous year, Vipera said it continues to progress well, with unaudited management accounts at the end of July showing revenue of EUR3.7 million, ahead of the equivalent period last year. As at the end of August billed and committed revenue for 2015 was ahead of its total revenue in 2014, Vipera said.
Following the year end the company won a contract with the Government Savings Bank of Thailand. At that time the company had said the deal was for one million users, who will use Vipera's digital financial services platform MOTIF via the Government Savings Bank of Thailand's newly launched mobile making service.
Although the company expressed optimism for the full year Tuesday, it noted that its financial results for the year will be "as ever" significantly dependent on the timing of transactions and the speed of customer decision making.
At the end of the half year Vipera had cash of EUR4.4 million, up from EUR1.3 million a year before.
"With the increasingly fast rate of growth experienced by the company at the beginning of the second half, the board looks to the end of the year with optimism," said Chief Executive Officer Marco Casartelli in a statement.
Shares in Vipera were up 6.8% to 4.27 pence early Tuesday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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