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Monitise posts loss after deal and investments push up operating cost
September 5, 2013 / 6:31 AM / 4 years ago

Monitise posts loss after deal and investments push up operating cost

Sept 5 (Reuters) - Mobile banking technology company Monitise Plc reported a loss after the Clairmail deal and investment in the Group’s delivery capabilities and platform technology doubled its operating costs.

The company said adjusted loss before tax for the full year was 32.8 million pounds as compared to a loss of 18.2 million pounds a year before.

The company also said Peter Ayliffe, Visa Europe’s retiring CEO would take over as its Group Chairman. Ayliffe succeeds Duncan McIntyre, who is stepping down but will continue as an advisor.

The company said it expected revenue growth of about 50 percent in 2014.

Shares in the company closed at a life high of 53.75 pence on Wednesday on the London Stock Exchange.

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