Bango H1 FY2010 revenue up 83%, losses narrow
Bango plc, the mobile web payments and analytics firm, said revenue jumped 83% to £12.32m in the six months ended 30 September 2009, while after-tax losses narrowed to £0.13m from £0.59m.
Revenue from North America tripled to £9.38m as established mass-market content providers in the USA continued to move to the web-billing services offered by Bango. US based consumers now generate 76% of end user revenue.
Chairman Lindsay Bury said: "Bango has made excellent progress in the first half. Several of the world's largest content providers have begun the migration of their mobile business onto the Bango platform, contributing to the significant increase in transaction volumes over the past year.
"Bango's current operating expenses can support further substantial growth in transaction volumes. With many opportunities for growth in volumes from new and existing customers, stable percentage margins on these additional transactions are expected to drive the business to profitability and positive casHFLow in the second half.
"Bango sits in the middle of this growing market and with its unique technology, operator relationships, strong operational foundation and significant market opportunity, the board looks to the future with confidence and expects a successful outcome to the year."
The Cambridge-based company's share price slipped 1% on the news. It remains near year highs. Its market capitalisation is now around £13.6m.
