MobilityOne Ltd - e-commerce payment solutions provider - Sees shares fall after being restored to trading. It reports that revenue in 2023 edges up to £241.7 million from £233.8 million a year earlier. It swings to a pretax loss of £1.4 million from a profit of £278,978. Cost of sales in the period rise to £229.7 million from £221.0 million. Administrative expenses rise to £12.2 million from £11.9 million. Finance costs climb to £236,058 from £137,143.
Company anticipates a challenging business environment and remains cautious about the outlook for the remainder of 2024, despite the reported expectations that the Malaysian economy will grow between 4.0% and 5.0%. ‘This caution is due to rising inflation and increased expenses, including higher administrative, infrastructure, and marketing costs, among other related expenses. Consequently, the group’s gross profit margins for its products and services will continue to be affected as it strives to maintain or grow its business.’
Current stock price: 2.40 pence, down 11% in London on Tuesday
12-month change: down 47%
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