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Bango posts loss as expenses offset rising sales

By BFN News | 09:39 AM | Tuesday 17 September, 2019


Mobile commerce company Bango booked a first-half loss after rising sales were offset by operating costs. Pre-tax losses for the six months through June amounted to £1.69m, compared to losses of £2.24m on-year. Revenue rose 64% to £4.32m. Cash at the end of June was £2.25m, which the company said was sufficient to fund itself to cash generation, and support planned investments to grow sales and develop products. 'The Bango strategy continues to deliver success for our customers and this is being demonstrated by the continued, rapid growth in the Bango business,' chief executive Ray Anderson said. '2019 has seen strong performance across the business, with payment and resale growing in multiple markets, and Bango Marketplace attracting more developers and delivering more audiences.' 'The outlook is promising as the synergies across the Bango business deliver increasing value to our customers.' At 9:39am: (LON:BGO) Bango PLC share price was -8.5p at 124p Story provided by StockMarketWire.com

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