Mobile commerce company Bango PLC (LON:BGO) has seen a strong performance across the business in 2019.
End-user spend in the first half of 2019 topped £465mln, which was more than double the figure of £220mln in the same period of 2019, representing the fifth year in a row that end-user spend has more than doubled.
WATCH: Bango PLC reports strong performance across the business in 2019
Bango has seen growth across all major partners connected to its platform, including Google Play, Amazon, Microsoft and other streaming video and audio merchants.
Revenues increased 64% to £4.32mln from £2.63mln, while revenue earned from processing end-user spend increased by 43% to £3.18mln from £2.22mln.
Data monetisation revenue increased to £1.14mln from £420,000 - an increase of 173%. Bango earns data revenue either as a share of the fee earned by offering data audiences to merchants or other advertisers or as a monthly software-as-a-service fee for its Audiens customer data platform.
Operating profit before depreciation, amortisation, share-based payments and exceptional items turned positive at £10,961, compared to a loss of £915,555 in the same period of 2018.
The reported loss before tax narrowed to £1.69mln from £2.24mln the year before.
Cash at the end of the reporting period stood at £2,25mln, down from £3.81mln at the end of 2018.
"The Bango strategy continues to deliver success for our customers and this is being demonstrated by the continued, rapid growth in the Bango business,” said Ray Anderson, the chief executive officer of Bango.
“The outlook is promising as the synergies across the Bango business deliver increasing value to our customers," he added.