TIDMFNX
RNS Number : 6627A
Fonix Mobile PLC
24 January 2024
Fonix Mobile plc
("Fonix" or the "Company")
Trading Update
Strong gross profit and earnings growth, ahead of management
expectations
Fonix Mobile plc, the mobile payments and messaging provider, is
pleased to provide an update on trading for the 6 months ended 31
December 2023 (the "Period").
Financial highlights:
-- Gross profit and adjusted EBITDA in H1 FY24 have grown ahead
of management's expectations. As a result, the Board now expects
adjusted EBITDA for the full year ending 30 June 2024 to be
marginally ahead of management expectations.(1)
-- Gross profit in the Period grew by 17.9% to GBP9.2m (H1 FY23: GBP7.8m).
-- Adjusted EBITDA(1) in the Period grew by 17.7% to GBP7.3m (H1 FY23: GBP6.2m).
-- Fonix continues to generate strong underlying cash flows and
intends to pay an increased interim dividend in March 2024, in line
with the Company's progressive dividend policy to pay out at least
75% of adjusted earnings per share.
Operating highlights:
-- Total payment volume ("TPV") of mobile payments in the Period
grew by 15.3% to GBP158m (H1 FY23: GBP137m), with a record month of
commercial trading in both the UK and overseas in December.
-- 100% platform uptime throughout the Period whilst supporting
record levels of transactions and consumer engagement.
-- New Subscription Manager product has now been released in
preparation for major charity events in 2024.
-- Significant gross profit growth in the Republic of Ireland,
where the business has further strengthened its relationship with
key clients and mobile network operators by taking a central role
in coordinating discussions between stakeholders on the proposed
new Gambling Regulation Bill. This may govern some interactive
services operated by Fonix's clients.
-- Fonix's key business segments of payments and messaging have
both grown in the Period and the business retains a growing
pipeline of client prospects going into H2 FY24.(2)
Outlook:
With high levels of repeating income, continued growth from
existing clients and increasing opportunities for expansion in
international markets, the Board remains confident in the growth
potential for Fonix going into H2 FY24 and beyond.
Rob Weisz, CEO, commented:
"We are delighted to have once again delivered on our strategic
goals, with our key commercial segments achieving solid
year-on-year growth in income and profitability. In the first half
of the year we have benefited from a 'true up' in trading following
HM The Queen's death in the prior year, but the underlying growth
rate remains strong in both the UK and Ireland.
The business continues to make good progress on further
international expansion and we hope to make announcements relating
to this later in the year."
Notes:
All financials based on unaudited figures.
(1) Adjusted EBITDA excludes share-based payment charges along
with depreciation, amortisation, interest, and tax from the measure
of profit.
(2) All financial numbers contained within this announcement are
unaudited.
Enquiries
Fonix Mobile plc Tel: +44 20 8114 7000
Robert Weisz, CEO
Michael Foulkes, CFO
Cavendish Capital Markets Limited (Nomad and Broker) Tel: +44 20 7220 0500
Jonny Franklin-Adams / Seamus Fricker (Corporate Finance)
Sunila de Silva/ Harriet Ward (ECM)
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU No. 596/2014) which is part of UK law by virtue of
the European Union (Withdrawal) Act 2018. Upon the publication of
this announcement, this inside information is now considered to be
in the public domain.
About Fonix
Founded in 2006, Fonix provides mobile payments and messaging
services for clients across media, telecoms, entertainment,
enterprise and commerce.
When consumers make payments, they are charged to their mobile
phone bill. This service can be used for ticketing, content, cash
deposits and donations. Fonix's service works by charging digital
payments to the mobile phone bill, either via carrier billing or
SMS billing. Fonix also offers messaging solutions.
Based in London, Fonix is a fast growth business driven by blue
chip clients such as ITV, Bauer Media, RTÉ, Global Media, Comic
Relief and Children in Need to name a few.
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END
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January 24, 2024 02:00 ET (07:00 GMT)
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