Mi-Pay Group (MPAY)

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 8.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 12.25
  • 52 Week Low: 7.75
  • Currency: UK Pounds
  • Shares Issued: 45.73m
  • Volume: 0
  • Market Cap: £3.66m

Mi-Pay revenue boosted by fraud management launch

By Duncan Ferris

Date: Wednesday 24 Apr 2019

LONDON (ShareCast) - (Sharecast News) - Mi-Pay Group's shares edged upwards on Wednesday as the company reported a reduction in annual loss as revenue crept up following the launch of its new fraud management service.
The online payment and fraud management specialist recorded a loss before tax of £0.2m for 2018, a 64% improvement compared to the year before, as revenue increased by 9% to £3.3m and administrative expenses decreased by 11% to £2.3m.

Top line growth was assisted by the creation of Mi-Pay's fraud management services, which contributed revenues of £0.3m after the signing of a 12 month contract to deliver indemnified fraud services on mobile top up and digital content services in mainland Europe.

However, revenue from Transaction Services slipped to £2.6m from £2.7m due to the impact of reduced pricing with the AIM traded company's largest client, while percentage revenue per transaction declined to 2.5% from 2.8%.

Revenue from Mi-Pay's final segment, the Professional Services unit, remained flat at £0.4m despite percentage revenue per transaction declining to 12% from 13%.

Michael Dickerson, executive chairman of Mi-Pay, said: "2018 has been a year of strong progress for Mi-Pay in which key milestones have been achieved. We processed over £100m in fully managed payment transactions for the first time and successfully delivered indemnified payment fraud management services driving £0.3m of profitable new revenue."

Cash and cash equivalents stood at £3.5m at the end of the year, up from £2.9m at the same point the year before.

"The market we operate in continues to change as new European payment compliance directives impact solution providers and our clients consolidate their offerings and vendors, especially as they increasingly focus on the transition to digital solutions, our core offering. This offers both opportunities and risks, however our knowledge, in house solutions and efficiencies in digital e-commerce provides a strong platform to build from," said Dickerson.

Mi-Pay Group's shares were up 0.85% at 11.85p at 1149 BST.

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Mi-Pay Group Market Data

Currency UK Pounds
Share Price 8.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 12.25
52 Week Low 7.75
Volume 0
Shares Issued 45.73m
Market Cap £3.66m

Mi-Pay Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
57.17% below the market average57.17% below the market average57.17% below the market average57.17% below the market average57.17% below the market average
22.58% below the sector average22.58% below the sector average22.58% below the sector average22.58% below the sector average22.58% below the sector average
Price Trend
61.27% below the market average61.27% below the market average61.27% below the market average61.27% below the market average61.27% below the market average
58.14% below the sector average58.14% below the sector average58.14% below the sector average58.14% below the sector average58.14% below the sector average
Income Not Available
Growth
20.93% below the market average20.93% below the market average20.93% below the market average20.93% below the market average20.93% below the market average
17.65% below the sector average17.65% below the sector average17.65% below the sector average17.65% below the sector average17.65% below the sector average

Mi-Pay Group Dividends

No dividends found

Trades for --2019

Time Volume / Share Price
0 @ 0.000p

Mi-Pay Group Key Personnel

CEO John Nicholas Beale

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