Mobile banking platform provider Monitise has signed a slew of new deals during the year, which has boosted the order book. Moreover, chief executive Alastair Lukies expects to double revenues in 2012 and for the company to hit break even by 2013.
New deals, including a five-year contract with Visa, and an extension of an existing relationship with RBS has propelled Monitise's order book to £55m in the year. That contract win momentum has continued since, too, with the book having reached to £78m by the start of this month. Mr Lukies is expecting £14m of this to be recognised in the current financial year, with another £9m expected from other existing deals.
Meanwhile, with mobile banking becoming increasingly popular, Monitise's registered customer base has risen to 4.5m from 3.5m in December - accordingly, user generated revenues have more than doubled to £6.3m, from £2.9m previously. Sales from development and integration services have surged as well, to £6m from £1.4m, driven largely by new business wins. Encouragingly, the gross margin also held firm at above the group's 60 per cent target.
Evolution Securities expects a pre-tax loss of £10.2m in 2012, with a loss per share of 1.3p.
MONITISE (MONI) | ||||
---|---|---|---|---|
ORD PRICE: | 37p | MARKET VALUE: | £260m | |
TOUCH: | 36-37p | 12-MONTH HIGH: | 40p | LOW:18p |
DIVIDEND YIELD: | nil | PE RATIO: | na | |
NET ASSET VALUE: | 5p* | NET CASH: | £23.6m** |
Year to 30 Jun | Turnover (£m) | Pre-tax profit (£m) | Earnings per share (p) | Dividend per share (p) |
---|---|---|---|---|
2007 | 0.47 | -8.68 | -3.80 | nil |
2008 | 1.49 | -14.0 | -5.50 | nil |
2009 | 2.66 | -13.1 | -4.00 | nil |
2010 | 6.02 | -17.0 | -3.70 | nil |
2011 | 14.0 | -17.2 | -2.10 | nil |
% change | +133 | - | - | - |
*Includes intangible assets of £6.8m or 1p a share **Includes £10m of short-term deposits |