Mobilityone : Audited results for the year ended 31 December 2015

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Regulatory Story

Go to market news section MobilityOne Limited - MBO Released 13:00 30-Jun-2016

Final Results

RNS Number : 8309C MobilityOne Limited 30 June 2016

MobilityOne Limited

("MobilityOne", "Company" or the "Group")

Audited results for the year ended 31 December 2015

30 June 2016

MobilityOne (AIM: MBO), the e-commerce infrastructure payment solutions and platform provider with its main operations in Malaysia, announces its full year results for the year ended 31 December 2015.

A copy of the annual report and audited financial statements, along with notice of the Company's annual general meeting, to be held at 9.00 a.m. Malaysia time on 25 July 2016 at B-10-8, Level 10, Megan Avenue II, Jalan Yap Kwan Seng, 50450 Kuala Lumpur, Malaysia, is being posted to shareholders today and will be available shortly on the Company's website, www.mobilityone.com.my.

Highlights

• Revenue increased by 23.0% to £65.16 million (2014: £52.96 million) mainly contributed by growth in the mobile phone prepaid airtime reload and bill payment business, via the Group's existing banking channels and payment terminal base in Malaysia.

• Profit after tax of £0.16 million (2014: profit after tax of £0.04 million).

• As at 31 December 2015, the Group had cash and cash equivalents of £2.22 million (31 December 2014: cash and cash equivalents of

  £1.61 million).

• The contribution from the Group's operations in the Philippines remained insignificant, with a small revenue contribution through the provision of e-payment solution.

• The Company expects an improve trading performance in 2016 and is currently exploring the opportunity to expand its e-payment solutions and services to capitalise on the efforts of the Malaysian central bank to encourage switching from paper-based payments to e-payments.

For further information, please contact:

MobilityOne Limited [phone]

Dato' Hussian A. Rahman, CEO www.mobilityone.com.my [e-mail]

Allenby Capital Limited (Nominated Adviser and Broker) [phone] Nick Athanas/James Reeve/Richard Short

Newgate Communications [phone]

Robyn McConnachie

About the Group:

MobilityOne provides e-commerce infrastructure payment solutions and platforms through its proprietary technology solutions, marketed under the brands MoCS and ABOSSE.

The Group has developed an end-to-end e-commerce solution which connects various service providers across several industries such as banking, telecommunication and transportation through multiple distribution devices including EDC terminals, mobile devices, automated teller machines ("ATM") and internet banking.

The Group's technology platform is flexible, scalable and designed to facilitate cash, debit card and credit card transactions from multiple devices while controlling and monitoring the distribution of different products and services.

For more information, refer to our website at www.mobilityone.com.my

Chairman's Statement

For the year ended 31 December 2015

Introduction

The Directors are pleased to present the audited consolidated financial statements for MobilityOne Limited for the year ended 31 December 2015.

The revenue of the Group increased by 23.0% to £65.16 million (2014 revenue: £52.96 million), which was mainly contributed by growth in the mobile phone prepaid airtime reload and bill payment business via the Group's existing banking channels (such as mobile banking, internet banking and ATMs) and payment terminal base in Malaysia. The increase in revenue was also contributed by more than 1,000 new agent banking points being introduced by one of the Group's banking partners in Malaysia and additional bill payment partners. As a result of the increased revenue, the Group reported a profit after tax of £0.16 million in 2015 (2014 profit after tax: £0.04 million).

The contribution from the Group's operations in the Philippines remained insignificant with a small revenue contribution through the provision of an e-payment solution that allows a licensed betting company in the Philippines to collect bets using the Group's mobile payment terminals.

MobilityOne Sdn Bhd, the Company's wholly-owned subsidiary operating in Malaysia, is a Multimedia Super Corridor ("MSC") status company, however its pioneer status (which exempts 100% of the statutory business income from taxation) expired on 25 April 2015.

As at 31 December 2015, the Group had cash and cash equivalents of £2.22 million (31 December 2014: cash and cash equivalents of £1.61 million) and the secured loans and borrowings from financial institutions were £1.88 million (31 December 2014: £2.98 million).

Current trading and outlook

The Directors expect that the trading performance of the Group for 2016 will continue to be positive notwithstanding a cautious economic outlook in Malaysia. The Group's prepaid airtime reload and bill payment business via the existing business channels as well as contribution from more than 1,000 new agent banking locations introduced by one of the Group's banking partners in Malaysia is expected to continue to grow and contribute positively to the overall performance of the Group. In addition, the Group's ongoing efforts to provide additional value added services via the Group's banking partners' existing credit card terminals would further provide additional locations to provide our products and services. The additional locations would complement the Group's existing business channels and strengthen the physical retail reach. Furthermore, the Group plans to expand its e-payment solutions and services to capitalise on the efforts of the Malaysian central bank to encourage switching from paper-based payments to e-payments.

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Abu Bakar bin Mohd Taib Chairman