Trading suspension lifted as MobilityOne reports full-year losses

20th Aug 2024 10:45

(Sharecast News) - E-commerce infrastructure payment specialist MobilityOne announced its audited financial results for the year ended 31 December on Tuesday, allowing trading in its shares to resume.

The AIM-listed company said that despite a revenue increase to £241.67m, up from £233.76m in 2022, it reported a challenging financial year with an operating loss of £1.05m, swinging from a profit of £0.38m the previous year.

It also posted a loss before tax of £1.37 million, reversing a £0.28m profit in 2022, and a net loss for the year of £1.41m, compared to a modest profit of £0.02m a year earlier.

Following publication of its annual report and accounts, MobilityOne's suspension from trading on the AIM market was lifted at 0730 BST.

The company said its annual general meeting was scheduled for 11 September in Kuala Lumpur.

At 0848 BST, shares in MobilityOne were down 25.93% at 2p.

Reporting by Josh White for Sharecast.com.