Shares digital

Monitise (MONI:AIM) – Interims PTP: -£7.0m (-£3.3m) Divi: n/a (n/a)

Strong progress in the USA, a potentially ground-breaking deal with VISA and further functionality developments all mean the mobile banking and payments technology expert is meeting its strategic goals. But slower than anticipated progress in the UK market spooked investors, who drove the early stage company’s shares down by 15% to 12.75p.

‘The UK market has been slow, but it is a great showcase market,’ argues chief executive Alastair Lukies. ‘It is tough and competitive on the mobile side and conservative on the banking side.’ Banks including Alliance & Leicester (AL.) and Royal Bank of Scotland (RBS), as well as VISA, have signed up more than 110,000 consumer to use Monitise’s platforms for balance inquiries, pre-pay top-up, mobile payment and other services.

Shares says: £15.4 million cash pile gives support to the £32.5 million valuation.

by:Russ Mould