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A payments business that's returning cash to shareholders

The Aim-traded group is delivering strong earnings and cash flow growth and is expanding overseas
March 12, 2024
  • First-half pre-tax profit up 25 per cent to £7.4mn
  • Underlying cash up a third to £11.2mn

Record interim results from Fonix Mobile (FNX:255p) highlight why the Aim-traded technology group’s shares have delivered a 100 per cent total return since I initiated coverage (Alpha Research: Bargain opportunity to play the mobile payments boom’, IC, 5 August 2021).

Fonix’s main activity is a mobile payments service that enables merchants to charge customers for products or services (mobile ticketing, gaming, parking, dating, charity donations), turning the mobile device into a cash register while offering convenience for consumers.

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