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Fonix sees 25% revenue growth in 2020 as profits hit £5.8m

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Mobile payment and messaging specialist, Fonix, which was admitted to AIM on London’s Stock Exchange in October 2020, saw revenue grow 25% to £24.6m, generating a gross profit of £5.8m, up 22% on 2019.

According to its filing, Fonix’s three business segments of payments, messaging and managed services have each grown during the period, in line with expectations.

The company has also continued to attract new customers during the period across the media, charity, gaming and digital services sectors and retains a robust pipeline of prospects, with over 20 customers added and no customers lost in the period.

A highlight of the period was the successful BBC Children in Need campaign in November which raised £13.9m in donations using our platform. The event was also the first in the UK where a £40 single donation was permitted by the mobile network operators.

Fonix expects continued growth through 2021 from both existing clients and a strong pipeline of new business opportunities.

Despite the difficulties of the pandemic the business continues to operate remotely with no adverse effect on operational or technical planning.

The technical delivery team continues to focus efforts in a dual stream of platform resilience and performance combined with innovation and feature development. This ensures the business maintains the operational requirements to deliver some of the most high profile interactive campaigns and services in the UK as well as continuous cycles of feature development to enable revenue growth.

Fonix’s CEO, Rob Weisz says: “We’re really excited about publishing our interim report which highlights the great start we have had to life as a publicly listed company”

The company was established in 2006 and has embraced the growing needs of the mobile payments and messaging landscape. Fonix will continue to focus on providing high quality products and supporting clients across its core operating sectors including media, broadcast, charity and gaming.

Weisz adds: “We’re really proud to be working with many high-profile brands such as ITV, Global, Bauer Media and BBC Children in Need and we look forward to expanding on this and driving the business forward in 2021.”

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