Challenging market conditions for Neovia

Online payments group reports 21 percent decline in revenue

Neovia Financial plc issued a trading statement this week on its quarter three performance for the period ended September 2009, but the news wasn't good - a 21 percent year-on-year decline in revenue.

Challenging market conditions continued to prevail as the company reported:

* Fee revenue of $14.9 million, a substantial decline compared to Q3 2008: $17.5 million.

* Active e-wallet users up 1 percent on Q3 2008 to 98 357; the trend for active e-wallet users to generate lower fees per user is continuing.

* The Newteller platform venture on track to launch fully in Q1 2010.

* Total revenue for the period was $15.1 million, a decline of 21 percent compared to Q3 2008's 418.2 million.

* Cash position remains strong.

Given current economic conditions, Management says it continues to take a prudent view of the group's short term outlook and maintain tight control over operating costs and cash management.

All News Categories

Most Viewed Articles

See all

Related News

Join today and start earning rewards

You will immediately get full access to our online casino forum/chat plus receive our newsletter with news & exclusive bonuses every month.
S logo

Report to moderator

Use this function to inform the moderators and administrator of an abusive or wrongly posted message.

Please note that your email address will be revealed to the moderators if you use this

Select Language
Search
Search Results
39012170