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News Centre Audited Results for year ended 31 March 2012

 28 September 2012

MoneySwap Plc

("MoneySwap", the “Group” or the "Company") 

Audited Results for year ended 31 March 2012 

The Directors of MoneySwap Plc (AIM:SWAP), the Asia focused prepaid card and payment services provider, are pleased to announce the Company’s audited results for the 12 months ended 31 March 2012.

Highlights from Period

  • Successful Admission onto AIM in August 2011 - £3.1 million (US$5 million) raised;
  • Management team strengthened and back-end operations stream-lined;
  • The Suisse Black Card successfully launched targeting Chinese travelling overseas;
  • Revenue growth of 260% achieved with revenue for period of £1.11 million (US$1.78 million) - 28% ahead of expectations;
  • Loss for period of US$4.92 million.

Post Period Highlights

  • MoneySwap the first company to be approved by China UnionPay Ltd (“CUP”), China's largest bank card payment processor, as a payment provider for all three of CUP’s services  – online, point of sale and money transfer;
  • Co-operation agreement signed with DataCash, a MasterCard company;
  • Strong sales pipeline now being developed off the Company’s positioning. 

Richard Proksa, Chief Executive Officer, commented:

“I am delighted with the progress the Company has made to date. In our first year as a public company, we have successfully built a compelling product offering now able to tap into the large consumer market in China. We are confident that we will be able to increasingly monetorise and develop this position in the coming years.”


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