Mobile payments and analytics firm Bango has warned of slower than expected revenue growth.
The company said end user spend - and hence revenue - was slower than predicated and as a result it was unlikely to meet market expectations for the full year.
In a late trading update ahead of its interim results, the firm said growth in revenues from RIM (Blackberry) related App stores, especially from newer carriers, had been slower than expected.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Merchant Securities said at £20m for the year optimistically, the lower revenues would leave profit expectations just above break-even.
However, Bango did indicate that the outlook for next year should be brighter as the group has started work on billing integration for a further 43 carriers, in addition to the existing base of 17, Merchant said.
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
