Monitise Announces 6 month Earnings

Monitise has delivered a good 6 months, see below. This is a stock I strongly recommend is in your portfolio for the long term. The shares are up about 15|% since I first recommended them but they do fluctuate a lot as a small virtually unknown UK company. However the management team led by Lukies seems on the ball and every earnings announcement so far has been very positive. I think it likely that this stock will deliver growth of 100-300% over the next 5 years

RESULTS
· H1 FY 2013 revenue of £27.8m, up 63% on H1 FY 2012; up 22% on an organic basis.
o Strong growth in user generated revenue on a reported and organic basis, up 164% and 70% respectively, rising on a reported basis to 51% of total revenues from 31% in H1 FY 2012 and 37% in H2 FY 2012.
· Gross margins increased to 72% from 64% in H1 FY 2012, driven by a greater proportion of user generated revenue.

Outlook
· Full-year revenue target of at least £70m ($110m) on track, underpinned by orderbook and strong sales pipeline.

Business Highlights
o Value of payments and transfers initiated via the Monitise Enterprise Platform (MEP) is more than $31bn on an annualised basis, compared with $10bn a year ago.
o Further growth in live transactions with 2bn transactions on an annualised basis, compared with 0.48bn in February 2012.
o Registered customers 20m, compared with 6m in January 2012.
o Pipeline of more than 100 financial institutions via partners and direct sales teams looking to adopt mobile banking, payments and commerce services developed by Monitise.
o Monitise named 'Best Technology Supplier 2012' on 4 February 2013 by Royal Bank of Scotland Group.

oAlastair Lukies, Monitise Chief Executive Officer, said:
"Monitise's performance during the six months ended 31 December 2012 saw revenues continue to rise on the previous period with gross margins lifted by the ongoing shift towards growing user generated revenues. Monitise's overallperformance during the period reflected the ongoing investment in scaling the business to meet the increasing global demand for Mobile Money and strategic moves taken to consolidate the Group's leadership position globally. Our vision is clear. As a result of our interoperable platform and ecosystem of customers and partners, consumers globally can bank anywhere, pay anyone and buy anything via their mobile.