Bango (AIM: BGO) - end user spend increases…and encourages
With the share price having been in the doldrums over the past few months results for the year ending 31 December 2014 from the mobile payments company have encouraged giving the shares a lift
The key metric that appears to have encouraged is that end user spend has increased to £25.2m (FY2013: £15.6m) being up 62% with forecast end user spend to rise materially in 2015. Gross profit on end user spend also grew 71% to £0.60m (FY2013: £0.35m) although there was still a material loss before tax of £5.4m (FY2013: £4.9m), due to switch from up front activation fees to monthly fee basis. Following a £6.0m placing and open offer in October 2014 cash at the year end was £6.3m (FY2013: £5.1m) which should be able to support the business for the next…