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Mi-Pay narrows FY loss after steady progress in 2016

Wednesday, 5th April 2017
Mi-Pay Group has narrowed its FY pretax loss after making steady progress throughout 2016.

It said its pretax loss for the 12 months was £0.4m, from a loss of £1.4m a year earlier. Revenue had improved to £83.4m, from £64.7m.

Chairman Seamus Keating said Mi-Pay had continued to make steady progress throughout 2016 as its proposition became ever more relevant to Mobile Network Operators.

"We are pleased to see increased rates of migration to digital channels and we have continued to develop our growing suite of solutions," he said.

"The foundations we laid in 2015 to improve our operational efficiencies have continued and we are pleased to see our profit margin improve further."

Keating said Mi-Pay planned to invest further in its core areas throughout 2017 and remained focused on aiding its clients in their strategy for digital transformation and moving towards profitability.

At 8:57am: (LON:MPAY) MiPay Group Plc share price was -0.5p at 14.5p

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