Source - SMW
Monitise has widened its FY pretax loss to £243.1m, from £227.4m. Revenue was £67.6m, from £89.7m. It said the results confirmed a substantial improvement in H2 operating figures.

"We have made substantial progress in making Monitise a more stable and simpler business which is well positioned to achieve profitability," said CEO Lee Cameron in a statement. 

"At the EBITDA level we recorded a small profit in the second half of the year," he added. EBITDA was a loss of £19.6m, this comprising a loss of £20.2m in H1 and a profit of £0.6m in H2.

"Our restructuring has halved operating costs in the second half of the year and reduced headcount by 41% compared to a year ago while maintaining our high client service levels and launching our FINKit digital banking and financial services product."

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