Monitise First Half Revenues Rise 63%

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Monitise (LSE:MONI) CEO Alastair Lukies said in a published statement this morning that, “Monitise’s performance during the six months ended 31 December 2012 saw revenues continue to rise on the previous period with gross margins lifted by the ongoing shift towards growing user generated revenues.”

He was commenting on the company’s first half results, that saw, frankly, incredible results, with an increase in total customers from six million a year ago to 20 million as of 31 December 2012.  Total transactions during the six month period rose from 500 million to two billion.

The increases in customers and transactions generated a 63% increase in revenue year on year to £27.8 million.  Group gross margin was 72%.  Lukies is confident that Monitise is on tract to meet it’s full year expectations of £70 million in revenue.

The foregoing numbers reflect the acquisition o f Clairmail during the period and include Clairmail’s figures for the entire period, pre- and post acquisition.

Monitise share price rose by 1.47%, a 0.5 pence change to 34.5 by early afternoon.

“Monitise’s overall performance during the period reflected the ongoing investment in scaling the business to meet the increasing global demand for Mobile Money and strategic moves taken to consolidate the Group’s leadership position globally. Our vision is clear. As a result of our interoperable platform and ecosystem of customers and partners, consumers globally can bank anywhere, pay anyone and buy anything via their mobile,” said Lukies.

The company continues to expand its services as it readies a pilot program which will make Monitise the first provider of mobile payment services for Blackberry users.  The service will be called Blackberry Money, or BBM.  The pilot program will roll out in Indonesia, the world’s fourth most populated country, where Monitise has partners with PermataBank to develop the service.  In addition to making payments and transferring money between accounts, BBM allows payments to individuals on your contact list who also have the BBM service.

Darren Sugdon, CEO of Monitise Asia Pacific said, “It is incredibly exciting that Indonesia is the first country in the world to develop a person-to-person payment service such as this. This launch is a ringing endorsement for how businesses with different commercial needs can collaborate in the fast-growing mobile, payments and banking space.”

As it expands its global services, Monitise has acquired Mobile Money Network, Ltd., and eMerit Solutions Ltd.  The company has also entered into alliances with Cognizant, CGI Group, HDFC bank in India, Intuit, Visa and Venda.  Each of these ventures will give Monitise the ability to extended its service offerings and increase the company’s scale of business at the same time.

Monitise already processes more than $31 billion USD in transactions.  Adding the new BBM service and expanding it globally should keep Monitise at the leading edge of mobile banking technology and services for a long time to come with their their objective of Bank Anywhere, Pay Anyone, Buy Anything approach.

CEO Lukies concluded, “As the only independent Mobile Money business with live services across Europe, America, India and the Far East, we have big aspirations and remain resolutely focused on our strategy to enable the world’s leading financial institutions to make money mobile for everyone as money becomes digitised.”

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