Business
Full Year Trading Update and Notice of Results
Full Year Trading Update and Notice of Results.
About this update from Fonix Plc
[{"type":"text","content":"\n\nFonix Mobile plc\n(\"Fonix\" or the \"Company\")\nFull Year Trading Update and Notice of Results\nStrong trading momentum continues with significant growth in key markets and an expanded commercial offering\nFonix Mobile plc, the mobile payments and messaging provider, is pleased to provide an update on trading for the year ended 30 June 2024 (the \"Year\").\n \nFinancial highlights:\n● Gross profit and earnings have continued to grow strongly and ended the Year ahead of market expectations.\n● Gross profit in the Year grew by 18.5% to £17.9m (FY23: £15.1m).\n● Adjusted EBITDA1 in the Year grew by 18.1% to £13.7m (FY23: £11.6m).\n● Fonix continues to generate strong underlying cash flows and intends to pay an increased final dividend in November 2024, in line with the Company's progressive dividend policy to pay out at least 75% of adjusted earnings per share.\n● The board continues to review options for the return of surplus cash to shareholders following the share buy-back in April 2024.\n \nOperating highlights:\n● The total payment volume (\"TPV\") of mobile payments processed in the Year grew by 12.8% to £302.4m (FY23: £268.1m).\n● In addition, for the first time, the Company facilitated payment transactions via Apple Pay, Google Pay, PayPal and bank card as part of an expanded business strategy including the development of online payment portals.\n● Selected to support Eurovision as voting partner for the first time, managing voting for Eurovision 2024 across two territories - the UK and Republic of Ireland.\n● Fonix's commercial business segments of payments and messaging have each grown by at least 16% in the Year, in line with expectations. The business maintains a robust pipeline of prospects going into the next financial year.\n● Overseas markets represented approximately 12% of gross profits for the year.\n● Fonix continues to maintain high client retention.\n● Engagement with a record 23m (FY23: 19m) consumers in the Year.2\n● The business continues to work with clients and partners on the proposed Irish Gambling Regulation Bill, which is now at the Committee Stage in the Seanad Éireann. Due to the ongoing delays in the legislative process and the expectation of a 2024 general election in the Republic of Ireland, the collecti...