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RNS Number : 8335B
MobilityOne Limited
15 June 2021
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the UK Market Abuse Regulation. With the publication of this
announcement via a Regulatory Information Service, this inside
information is now considered to be in the public domain.
15 June 2021
MobilityOne Limited
("MobilityOne", the "Company" or the "Group")
Trading update and
extension to publication of audited accounts for year ended
31 December 2020
MobilityOne (AIM: MBO), the e-commerce infrastructure payment
solutions and platform provider, announces an update on trading
prior to release of its audited results for the financial year
ended 31 December 2020.
Highlights :
-- Unaudited revenue increased 45.6% to GBP246.7 million (2019:
GBP169.4 million) mainly due to higher sales recorded in the
Group's mobile phone prepaid airtime reload and bill payment
business in Malaysia;
-- Gross profit of GBP12.96 million (2019: GBP10.77 million);
-- Profit before tax of GBP2.26 million (2019: GBP1.08 million);
-- Profit after tax of GBP1.61 million (2019: GBP1.87 million,
included gain on disposal of a subsidiary of GBP1.11 million);
-- Cash and cash equivalents as at 31 December 2020 of GBP4.42
million (31 December 2019: GBP4.42 million);
-- The Directors remain positive on the prospects of the Group
for 2021 as the COVID-19 pandemic has not negatively affected the
Group's financial performance and the existing businesses in
Malaysia are expected to grow further; and
-- The Company has been granted an extension to publish its
audited results for the financial year ended 31 December 2020 by no
later than 30 September 2021.
Based on the unaudited results for the financial year ended 31
December 2020, the Group achieved an increase in revenue of
GBP246.7 million (12 months ended 31 December 2019: revenue of
GBP169.4 million). This reflects a 45.6% increase and was mainly
due to the strong growth of the Group's e-payment business in
Malaysia, in particular, the Group's mobile phone prepaid airtime
reload and bill payment business through the Group's banking
channels (i.e. mobile banking and internet banking) with 10 banks
and third parties' e-wallet.
In tandem with the increase in revenue, t he Group is expected
to record a profit after tax of GBP1.61 million in 2020 (2019:
profit after tax of GBP1.87 million, which included a one-off gain
of GBP1.11 million in connection with the Group's disposal of its
55%-owned loss-making subsidiary in Bangladesh).
In 2020, the Group's international remittance services and
e-money business in Malaysia and e-payment solutions activities in
the Philippines and Brunei remained small and did not make
significant contributions to the Group.
As at 31 December 2020, the Group's financial position remained
healthy with cash and cash equivalents of GBP4.42 million (31
December 2019: cash and cash equivalents of GBP4.42 million) and
the secured loans and borrowings from financial institutions
amounted to GBP3.20 million (31 December 2019: GBP3.43
million).
All figures stated above are based on unaudited financial
figures and remain subject to finalisation of the Group's
audit.
Outlook
The COVID-19 pandemic has not negatively affected the Group's
financial performance given that the nature of the Group's major
business activities are focused on e-payments. As such, t he Group
remains positive on its business outlook for the remainder of 2021
as the e-payments industry is expected to continue its growth trend
in Malaysia. In addition, the Group will continue to enhance its
product offering and pursue new business opportunities.
In 2020, the Company incorporated M-One Tech Limited in the
United Kingdom with the intention to commence business in areas
such as payment aggregation, electronic payments and e-remittance
services in the United Kingdom, in which the Group already has the
operational experience in Malaysia. In view of the outbreak of the
COVID-19 pandemic, the preparation for the necessary application to
the Financial Conduct Authority ("FCA") to seek its authorisation
for the above has been delayed and the Group plans to finalise the
application to the FCA during 2022.
As recently announced, the Group has received a license from
MasterCard Asia/Pacific Pte Ltd ("MasterCard") for the Group to
issue MasterCard prepaid cards in Malaysia which will complement
the Group's existing e-wallet and will be part of the Group's
end-to-end payment ecosystem. In addition, t he Society for
Worldwide Interbank Financial Telecommunication (" SWIFT " ) has
permitted the Group to join its network. With SWIFT's platform, the
Group is expected to be able to expand its business to larger
amount of money transfers for business to business (B2B) in
addition to the Group's existing arrangement with MoneyGram which
caters mainly for the smaller amount of money transfers, typically
for consumer to consumer (C2C).
While the Directors do not anticipate any significant revenue
contribution from the developments with MasterCard and SWIFT in the
current financial year, as the transactions are expected to only
commence in the 4 (th) quarter of this year after receiving
relevant approvals from the Central Bank of Malaysia, they are
expected to contribute positively to the Group's overall growth
prospects in the long term.
Annual Report and Accounts
In view of the recent renewed set of lockdown restrictions in
Malaysia due to rising COVID-19 cases in Malaysia where the main
business operations of the Group are based, the Company will be
posting its annual audited report and accounts for the financial
year ended 31 December 2020 ("Annual Report") to shareholders by 30
September 2021 but will endeavour to do so as soon as possible.
Pursuant to the guidance provided by AIM Regulation in "Inside AIM"
on 27 January 2021, AIM Regulation has granted the Company an
additional period of up to 3 months until 30 September 2021 to
publish the Annual Report.
The Company has also been granted an extension of time to file
the Annual Report with the Jersey Financial Services Commission
until 30 September 2021.
For further information, please contact:
MobilityOne Limited +6 03 89963600
Dato' Hussian A. Rahman, CEO www.mobilityone.com.my
har@mobilityone.com.my
Allenby Capital Limited
(Nominated Adviser and Broker) +44 20 3328 5656
Nick Athanas / Vivek Bhardwaj
About the Group:
MobilityOne provides e-commerce infrastructure payment solutions
and platforms through its proprietary technology solutions. The
Group has developed an end-to-end e-commerce solution which
connects various service providers across several industries such
as banking, telecommunication and transportation through multiple
distribution devices including EDC terminals, mobile devices,
automated teller machines ("ATM") and internet banking. The Group's
technology platform is flexible, scalable and designed to
facilitate cash, debit card and credit card transactions from
multiple devices while controlling and monitoring the distribution
of different products and services.
For more information, refer to our website at
www.mobilityone.com.my
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END
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