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Bango Nears Break-Even
UK-based mobile web payments and analytics firm Bango Plc has reported a smaller pretax loss for fiscal 2009, with a second-half performance near break-even and says it is confident of growing sales in the current fiscal year.
For fiscal 2009, ended March 31, the firm made a pretax loss of £646,000, considerably improved from a loss of £1.8 million in fiscal 2008. Sales rose 28% to£17.6m from £13.7m, helped by increased use of the Bango payment service during the year. Sales from outside the UK made up 61% of total revenue, up 22% on last year.
The good second half performance reflects cost savings made throughout the year. Healthy indicators for the rest of 2009 include sales growth, profitability and transaction volumes.
Bango, which says it expects to make announcements later this year about contracts with several mobile operators, is online at www.bango.com .
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