Mi-Pay remains positive in H2

The positive tone set in September’s half-year results looks to have continued throughout the second half for this provider of outsourced mobile payment systems, according to today’s brief trading update. The management of Mi-Pay Group Plc (LON:MPAY) expect a 10% increase of revenue, to £3.3m after some strong growth in volumes, as transactions processed rose in value by 27% to £83m. The outlook for profit is positive as gross margins should be boosted following high payment success rates and low fraud levels. Further cuts in administrative costs should add to the tight control of the first half. Year end cash is stable at £3.5m.

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