Bango Posts 28% Revenue Increase

Bango has announced its Preliminary Results for the year ended 31 March 2009. Revenues were up 28% to 17.6 million, and up 61% between the first and second half of FY09. Gross margins were down slightly on last year at 2.66 million (2.77 million). The loss for the year before tax and share-based payments reduced from 1.58 million to 0.58 million.  (1.58m).
Bango reports that end user spend increased 69% between the first and second half of the year, while several major US customers began their transition from using Premium SMS aggregators to Bango during the year, causing a five-fold increase in US revenues. Bango Analytics, the new Mobile Marketing product line, launched in February 2008, now has more than 50 paying customers, including major brands.
After a year in which we focused on improving our sales and marketing productivity, we have seen strong growth in revenues, says Bango CEO, Ray Anderson. We enter the new year close to break even on a monthly basis, with significantly lowered costs of sale, and strong signs that mobile web usage is accelerating.
Bangos shares rose 5.06% (2p) to 41.5p on the back of the results.