Business
Trading Update & Notice of Results
Trading Update & Notice of Results.
About this update from Bango Plc
[{"type":"text","content":"\n \nRNS Number : 2303V Bango PLC 20 July 2018 \n\n 20 July 2018\n \nTHE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT IS DEEMED TO BE PRICE SENSITIVE FOR THE PURPOSES OF THE MARKET ABUSE REGULATIONS \n \nBANGO PLC\n \n(\"Bango\")\n \nTrading Update & Notice of Interim Results\n \n \nBango (AIM: BGO), the mobile commerce company, provides an update on trading for the six months ended 30 June 2018, ahead of announcing its Interim Results on 18 September 2018. \n \nEnd User Spend\nEnd User Spend (EUS) continues its four-year growth trend of at least doubling every twelve months. The total EUS for 1h2018 was £220m compared with £92m in 1h2017, and £271m for all of 2017. As in previous years, EUS in the second half of the year is expected to be significantly higher than in the first.\n \nRevenue \nRevenue growth continues as expected, based on established routes and customers, the launch of new customers, the activation of subscription-based services, and additional billing routes. \n \nFor some recent contracts, pricing models have been established to incentivize migration of significant volumes of EUS from other channels to the Bango Platform during 2019-2020. Bango technology enables data generated from EUS to improve marketing effectiveness for customers, generating additional revenue for Bango. \n \nRevenue growth from the Audiens customer data platform is in line with expectations at the time of the acquisition of Audiens in January 2018. \n \nRevenue and EUS from annual subscriptions is now spread over the life of each subscription in accordance with IFRS15.\n \nCosts\nThe operational costs of running the Bango Platform continue at the same level as in previous years. The highly scalable and efficient design of the Bango Platform enables it to process EUS of more than $5 billion / year on the current cost base. Total administrative expenses increased slightly to strengthen sales and marketing in Asia, to accelerate launches by mobile operators in Latin America following success in Chile, and to integrate the newly acquired Audiens business.\nCash\nBango is fully funded to reach Group profitability. Cash on 30 June 2018 was £5.8m compared with £4.8m on 31 December 2017. Funds raised in January 2018 were used to acquire Audiens, rep...