Morse spin-off Monitise has seen its order book quadruple in the past year as the firm releases its unaudited pre-close trading update.
Full-year (ended 30 June 2011) revenue is expected to be £14m, more than double the £6m reported last year. And minimum contracted revenue at year-end stands at £55m for the next five years. This equates to four times the level seen a year ago, the update revealed.
The firm has also doubled its customer base to 4.5 million, and has £23m in the bank. It revealed it is confident of doubling its revenue again for FY2012.
Alastair Lukies, chief executive of Monitise, said: “Monitise continues to see very rapid growth across all areas of its business, both in the UK and internationally. The strength of our broadening partnerships and proven service delivery capabilities is a key validation that our strategy is working worldwide across mobile banking, mobile payments and mobile commerce.
"As a trusted partner to financial institutions worldwide, we remain focused on our vision to leverage our global scale, proven credentials and network-enabling strengths in the mobile money ecosystem,” he added.
“Our growth is being fuelled by exploding demand for globally proven bank-grade services so our clients can help their customers manage their finances via their handsets quickly and securely. The market opportunity is accelerating rapidly and we look forward to the future with confidence."
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