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BRIEF-Monitise H1 revenue 33.4 million stg versus 42.4 million stg
February 12, 2016 / 7:17 AM / 2 years ago

BRIEF-Monitise H1 revenue 33.4 million stg versus 42.4 million stg

Feb 12 (Reuters) - Monitise Plc

* H1 EBITDA loss -20.2 million stg versus -30.8 million stg loss year ago

* Decisive action on costs has been taken and a further material reduction in total costs is expected in h2 fy 2016

* Total costs of 53.6 mln stg in H1 FY 2016 (H1 FY 2015: 69.4 mln stg) projected to reduce by approximately 3 mln stg per month in second half

* Gross cash at 31 December 2015 of 53.4 mln stg and prospective EBITDA positive trading for H2 FY 2016 means business is sufficiently well funded to meet its future plans

* A non-cash impairment charge in relation to non-cloud intangible assets of 166.8 mln stg was made

* During period exceptional costs of 8.4 mln stg have been recognised as part of business restructuring

* Offsetting exceptional credits of 7.4 mln stg have been recognised, including 5 mln stg following a restructuring of customer contracts

* H1 revenue 33.4 million stg versus 42.4 million stg year ago

* Half yearly report

* H1 FY 2016 revenue of 33.4 mln stg (H1 FY 2015: 42.4 mln stg), with revenue in second half anticipated to be broadly similar

* EBITDA losses reduced to 20.2 mln stg (H1 FY 2015: 30.8 mln stg loss), with existing businesses generating positive EBITDA going forward

* Monitise is projecting H2 FY 2016 to be EBITDA positive

* Continue to evaluate all assets within Monitise group to ensure they remain core to our proposition Source text for Eikon: Further company coverage:

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