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Bango posts annual loss as investment spending offsets 41% revenue rise

By BFN News | 01:46 PM | Tuesday 17 March, 2020

Mobile commerce group Bango posted a full-year loss after a rise in revenue was offset by investment spending. Pre-tax losses for the year through December amounted to £3.1m, compared to losses of £3.6m on-year. Revenue rose 41% to £9.31m but administrative expenses rose, following a decision to increase investment in the company's data monetisation business. '2019 was a great year for the continual evolution of the Bango platform,' chief executive Paul Larbey said. 'In line with our strategy, once again we doubled end user spend, but more importantly expanded our market opportunity with the development of our data monetization business.' 'Bango Marketplace is now established and enters 2020 with a strong pipeline.' 'Bango's ambitious growth plans have delivered profit and, as I look at the opportunities ahead in 2020, my confidence in our ambitions is reinforced by Bango's unique combination of payments with data-driven intelligence for our customers and partners around the world.' At 1:46pm: (LON:BGO) Bango PLC share price was +2.5p at 64.5p Story provided by

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