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Fonix PLC, a UK-based mobile payments and messaging services provider, announced its final results for the fiscal year ended June 30, 2024. The company reported strong financial performance, with total payment volume (TPV) increasing by 13.1% to £303.3 million, revenue rising by 17.3% to £76.1 million, and gross profit growing by 18.5% to £17.9 million. Adjusted EBITDA, adjusted PBT, and adjusted EPS also showed significant increases.
During the year, Fonix expanded its commercial offering, including facilitating payments via Apple Pay, Google Pay, PayPal, and bank cards, as well as developing online payment portals. The companys commercial business segments of payments and messaging grew by at least 16%, and overseas markets contributed approximately 12% to gross profits. Fonix also made significant investments in new product features and was selected as the voting partner for Eurovision 2024 in the UK and the Republic of Ireland.
The Board expects to publish the Annual Report for the year ending June 30, 2024, on the Companys website on October 25, 2024, and the Annual General Meeting is scheduled for November 19, 2024. The Board remains confident in Fonixs growth prospects for FY25 and beyond, supported by high levels of recurring revenue, an expanded commercial offering, and opportunities for international expansion.
The Chairs Review highlights the companys strong year of double-digit growth in income, profitability, and cash generation, as well as successful execution of strategic objectives and a focus on ESG excellence. The CEOs Statement emphasizes the significant growth from new and existing customers, a disciplined sector-focused approach to growth, and a commitment to sustainable, long-term profitability for shareholders.
The financial review provides details on key performance indicators, revenue and cost analysis, and cash flow statements. The companys mobile payments segment and cash flow fluctuations due to "pass-through" cash received and paid on behalf of clients are also noted.
Overall, Fonix PLC demonstrated strong financial results and strategic progress in the year ended June 30, 2024, positioning itself for further growth and expansion.