MobilityOne Limited (MBO.L), a British e-commerce infrastructure payment solutions and platform provider, on Tuesday reported a wider loss for the full year 2024, reflecting decreased revenue and higher expenses.
For the 12-month period to December 31, 2024, the Group registered a loss before tax of 3.497 million pounds, compared with a loss of 1.369 million pounds in the previous year.
Net loss was 3.45 million pounds, or 3.242 pence per share, wider than a loss of 1.41 million pounds, or 1.325 pence per share, in 2023. Operating loss was 2.601 million pounds against a loss of 1.050 million pounds a year ago.
This wider loss was mainly due to lower sales, higher administrative and marketing expenses aimed at customer acquisition and retention, higher finance costs and the Group's share of its 49%-owned associated firm's loss, namely Sincere Acres Sdn Bhd and its wholly-owned subsidiary, Hati International Sdn Bhd, a Malaysian healthcare information systems provider.
Finance costs increased to 357,380 pounds from the prior year's 236,058 pounds. Administration expenses were 13.395 million pounds, compared with 12.547 million pounds last year.
The Group's revenue slipped by 4.74% to 230.23 million pounds from last year's 241.67 million pounds. This was mainly due to softer demand in the company's main market in Malaysia, particularly in mobile phone prepaid airtime reloads and bill payment services through the Group's banking channels and electronic data capture terminals as well as third parties' e-wallet applications.
Looking ahead, the company said that it expects a challenging business environment and remains cautious about the outlook for the remainder of 2025.
For comments and feedback contact: editorial@rttnews.com
Business News
May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.