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(Sharecast News) - Payment solutions and platform provider MobilityOne said on Wednesday that post-tax losses had widened in FY24 and that it remains "cautious" about the outlook for the remainder of FY25.
MobilityOne said its unaudited loss after tax had increased to £3.45m in FY24 on the back of increased administrative and marketing expenses and higher finance costs, widening from £1.41m in FY23, while unaudited revenues dropped from £241.67m to £230.2m, principally due to softer demand in its mobile phone prepaid airtime reload and bill payment business.
The AIM-listed firm highlighted that it anticipates "a challenging business environment" going forward and that it was cautious regarding the outlook for the rest of the year.
Notwithstanding this, MobilityOne said it was implementing targeted initiatives across its core business segments aimed at turning around its performance and positioning it for sustainable growth.
As of 0930 BST, MobilityOne shares had sunk 16.13% to 1.30p.
Reporting by Iain Gilbert at Sharecast.com
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