Fonix Mobile Posts Strong Interim Results; Hires Foulkes As New CFO

(Alliance News) - Fonix Mobile PLC on Monday reported continued "strong" revenue growth across ...

Alliance News 22 February, 2021 | 11:21AM
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(Alliance News) - Fonix Mobile PLC on Monday reported continued "strong" revenue growth across all business segments in its interim results.

The UK-focused mobile payments and messaging company that began trading on London's junior AIM market in October recorded revenue for the six months to December 31 of GBP24.6 million, up by 25% from GBP19.7 million in 2019.

Adjusted earnings before interest, tax, depreciation and amortisation for the period increased by 28% to GBP4.6 million from GBP3.6 million in 2019, while gross profit was GBP5.8 million, up 22% from GBP4.8 million.

Fonix said these increases are due to its three business segments of payments, messaging and managed services growing during the period in line with its expectations. It also has continued to attract new customers during the period across the media, charity, gaming and digital services sectors.

As a result of these increases, Fonix has declared a maiden interim dividend of 1.7 pence per share, which will be paid in March.

Shares in Fonix were down 1.9% at 153.50p in London on Monday.

Looking ahead, Fonix said it expects continued growth through 2021 from existing clients and has a strong pipeline of new business opportunities. Despite the difficulties of the pandemic, business continues to operate remotely with no adverse effect on operational or technical planning, it added.

"This has been an exciting period for Fonix with the IPO raising our profile, benefiting shareholders, partners and staff. We remain confident, through both our existing clients and pipeline of new clients, in the future success and growth of Fonix," said Chief Executive Rob Weisz.

Additionally, Fonix said Michael Foulkes will succeed Rupert Horner as chief financial officer on March 29. Horner was appointed to the board to assist with the company's admission to AIM trading back in October and will remain a shareholder.

Foulkes spent more than four years as chief financial officer at the venture-backed Black Swan Data, and held senior finance roles at Mobile Interactive Group, which was previously one of Europe's largest mobile payments business. MIG was acquired by Velti, a Nasdaq-listed mobile marketing business, in 2011.

By Zoe Wickens; zoewickens@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Fonix Mobile PLC Ordinary Shares 153.50 GBX -6.97 -

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