Monitise releases half year results to December 31st

"Excellent six months"

UK based mobile banking and payment service provider Monitise ( today released its half year results to December 31st 2011 (view press release). The results revealed revenue of 15.8 million, three times higher than the first half of the year, and a record order book of £83 million, with another £120 million of revenue due from existing contacts over the next 5 years. The company also made a pretax profit of £1.1 million, which reflects a one off gain of £10.1 million relating to FIS’s acquisition of a 51% stake of Monitise Americas. Monitise has taken the decision to increase its full year guidance (to June 30th 2012) to £34 million from £28 million.

Monitise’s partnerships during the period include collaborating with Visa Debit Processing Service (DPS) to develop new mobile services, FIS’s 51% acquisition stake of Monitise Americas to enable sales directly into the US market, a five year strategic partnership with FIS to develop new mobile money services, and a partnership between US Bank, Monitise Americas and FIS to develop a new mobile banking app. Visa Europe also strengthened its partnership with Monitise through strategic investment. Regarding new product, Monitise launched its alerts service with Visa Europe and Simply Tap with the Mobile Money Network.

Going forward, Monitise CEO Alastair Lukes comments that the company had an “excellent six months to the end of December 2011 with encouraging signs across all key financial, operational and adoption metrics… We have particularly seen momentum accelerate in the US mobile money market and we believe we are well placed to benefit from this.”  

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