StockMarketWire.com - Data-driven commerce platform company Bango reported narrower first-half losses as contract wins boosted revenue.

For the six months ended 30 June 2020, pre-tax losses narrowed to £668K from £1.69m. as revenue grew by 50% to £4.77m.

End user spend for the first half was £743m, and remained on track to reach £2bn in 2020, the company said.

The second half of 2020 would see the benefit of the new contracts and connections made in the first half, including the launch with SoftBank, especially in 4Q20 which was traditionally a period of high online spend, the company said.

'Most revenue growth results from contracts and routes won in previous years, so it is encouraging for future growth that the payments business launched new merchants and new routes during a period when online spending surged, it added.




At 9:01am: [LON:BGO] Bango PLC share price was -7p at 169.5p



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