Monitise set to treble its half-year revenue to £15m

MOBILE banking company Monitise yesterday announced an expected revenue of three times last year’s figure for just the first half of the 2012 financial year.

Revenues for the six month period to 31 December 2011 are expected to reach £15m, up from £5.3m in the same period last year.

This is already higher than the revenue generated in the full 2011 financial year.

The company reported a portfolio of more than 5.5m customers, compared with 3m in January 2011.

Monitise chief executive Alastair Lukies said: “We have seen via the increase in activity across our own technology platform how mobile banking has created an exciting and fast-growing new way for consumers to interact with their bank and manage money on their terms.”

Shares rose 9.4 per cent yesterday to close at 29p. The interim results will be released in February.