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Monitise (LSE: MONI) – spoils the AIM results party with horrible numbers, buying opportunity?

09/09/2015 · Monitise (MONI) 

Audited preliminary results for the year ended 30 June 2015 from the ‘digital technology company’ and news of the departure of the CEO brought about a meteoric sell-off in the share price which tumbled more than 50% to a mere 2.80p - they were priced at 46p this time last year. Has this business really got a future and could now be a buying opportunity?

The headline numbers tell a tale with revenue for the 12 months down 6% to £89.7m (not what one expects from a so-called high growth business, although there was a change of revenue model), the Group EBITDA loss £41.8m, although that was claimed to be at the lower end of the Company’s guidance range, and the reported loss a whopping £223m after loads of impairments and exceptional items.

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