Trading Statement

RNS Number : 4094N

MobilityOne Limited

10 June 2010

 



10 June 2010

MobilityOne Limited

("MobilityOne" or the "Company")

Trading update

The Company wishes to announce that when it announces its full year results for the financial year ended 31 December 2009 it expects to report a loss after tax of approximately £920k (12 months ended 31 December 2008: loss after tax of £880k) on turnover of approximately £13.7 million (12 months ended 31 December 2008: £12.5 million).  These figures are based on the Company's unaudited accounts and are subject to finalisation by the auditors.

Turnover for the financial year ended 31 December 2009 increased by approximately 10% from 2008. However, higher depreciation, amortisation of intangible assets and development costs of approximately £315k, together with the writing off of bad debts and development costs of approximately £115k, have resulted in the Company expecting to record a loss of approximately £920k in the year ended 31 December 2009.

The Company anticipates its performance in 2010 to remain challenging in light of prevailing market conditions. However, barring any unforeseen circumstances, the Company anticipates an upturn in the 4^th quarter of 2010 in the markets in which it operates, particularly in consideration of the following recent developments:

(i)         MobilityOne Sdn Bhd ("MobilityOne Malaysia"), a wholly-owned subsidiary of the Company,  has signed an agreement with Carrefour Malaysia (www.carrefour.com.my) to roll out approximately 300 EDC terminals for mobile phone's prepaid airtime reloads ("prepaid reloads") across Carrefour Malaysia's 23 hypermarkets and 20 express stores throughout Malaysia;

(ii)        MobilityOne Malaysia has been awarded a contract from Telekom Malaysia Berhad (www.tm.com.my) with the value of RM22.7 million (equivalent to c. £4.8 million) to supply telecommunication hardware over a period of 3 years;

(iii)       In Cambodia, MobilityOne Malaysia has entered into agreements with 4 telecommunications companies, namely Hello Axiata Company Limited (Hello Mobile - www.hello.com.kh), Latelz Co. Ltd (Smart Mobile - www.smart.com.kh), Combodia Advance Communications Co. Ltd (QB Mobile - www.qbmore.com) and Viettel (Cambodia) Pte Ltd (Metfone Mobile - www.merfone.com.kh) to sell their prepaid reloads via EDC terminals and banking channels.  In addition, MobilityOne Malaysia is in discussion with several banks in Cambodia to provide prepaid reloads via ATMs, Internet banking and mobile banking; and

(iv)      In Indonesia, MobilityOne Malaysia has entered into an agreement with PT Citra Multi Services (www.cms701.com) to provide up to 100,000 units of EDC terminals throughout Indonesia over a period of 7 years. MobilityOne Malaysia is currently working with PT Citra Multi Services on the technical aspects of the system and is evaluating the funding options and requirements for the EDC terminals.

The Company will provide a full update with the final audited accounts for the financial year ended 31 December 2009 which are expected to be released on 28 June 2010.

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For further information, please contact:

MobilityOne	[phone]
Dato' Hussian A. Rahman, CEO	www.mobilityone.com.my
[e-mail]
Allenby Capital Limited	[phone]
Nick Athanas / James Reeve

About the Group:

MobilityOne is the holding company of an established group of companies in the business of providing e-commerce infrastructure payment solutions and platforms through their proprietary technology solutions, which are 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 such as EDC terminals, short messaging services, automated teller machines, and Internet banking.

The Group's technology platform is flexible, scalable and has been 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, please refer to our website at www.mobilityone.com.my

 

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