MONITISE PLC (OTCMKTS:MONIF) 1H15 Loss Widens, FY15 Guidance Unchanged

MONITISE PLC (OTCMKTS:MONIF) recently announced its 1H15 unaudited results for the period ended December 31, 2014. The company’s 1H15 revenues declined to GBP 42.4 million from GBP 46.5 million during the prior year period. Pretax loss increased significantly to GBP 58.4 million in 1H15 from GBP 23.3 million reported for 1H14. However, the company reported considerable growth in registered end users to 33 million at the end of 1H15 from 30 million at the end of FY14.

MONITISE expects full-year 2015 EBITDA loss to be GBP 40-50 million, with revenues to be between GBP 90-100 million, as forecasted previously.

Peter Ayliffe, Chairman of MONITISE PLC (OTCMKTS:MONIF), told that the company is confident in its forecast of becoming EBITDA profitable in FY16, given the business momentum going through 2H15.

The strategic review has also helped facilitate constructive discussions with many leading businesses interested in MONITISE business. These renewed interests, together with the company’s existing clients and strategic partners, underscores the company’s unique positioning and future prospects.

The company also recently appointed Rene Ho as its Chief Marketing Officer, who brings extensive industry experience from his decade long career at Visa Inc (NYSE:V). He brings diverse experience in sales, marketing and communications as well as innovation and product development technology.

On operational front, MONITISE PLC (OTCMKTS:MONIF) and International Business Machines Corp. (NYSE:IBM) announced multi-year global alliance to foster advancement in cloud-based mobile commerce solutions. The company also partnered with Banco Santander, S.A. (ADR) (NYSE:SAN) to develop mobile banking innovations.

The company is also planning to launch its first Mobile Money services on the new “Monitise Central Platform” in April. Many existing and new clients are showing interest in the company’s new platform to address their commercial needs. IBM will provide its Watson, cognitive computing engine, in support of this new platform.

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