Bango PLC Trading Update, Netflix and Strategy Day (1657B)
08 January 2018 - 6:00PM
UK Regulatory
TIDMBGO
RNS Number : 1657B
Bango PLC
08 January 2018
8 January 2018
BANGO PLC
("Bango")
Trading Update, Netflix and Strategy Day
Bango (AIM: BGO), the mobile payments company, provides
information about a new merchant launch and an update on trading
for the twelve months ended 31 December 2017.
Netflix in Mexico
Bango has partnered with Netflix to launch carrier billing for
Netflix subscriptions in Mexico. Customers who sign up to Netflix,
the world's leading internet entertainment service, can now charge
the monthly subscription cost to their pre or post-paid mobile
phone bill. Enabled by Bango, carrier billed payment is initially
available to over 12 million subscribers in Mexico on any platform,
including Android, Apple and Microsoft devices.
Bango CEO Ray Anderson commented, "Carrier billing adds many new
customers to merchant services. We are pleased to provide a fast,
safe, easy to use alternative payment method for Netflix customers
in Mexico. Netflix is a hugely popular entertainment service and
Bango is delighted that the world's major merchants are choosing to
plug into the Bango Platform. After doubling the End User Spend run
rate for the third consecutive year, this is a great way to start
2018."
Trading Update
Bango continues to focus on growing End User Spend (EUS) through
the Bango Platform, to capitalize on the rapidly expanding global
market for digital content, goods and services. Trading was in-line
with expectations during 2017 and total EUS for 2017 was GBP271m
compared to GBP132m for 2016 (+105%).
The exit EUS run rate at the end of 2017 exceeded GBP400m/year,
once again more than doubling compared to the exit run rate at the
end of 2016.
Bango had cash of GBP4.8m on 31 December 2017 (31 December 2016:
GBP5.7m).
Strategy Day
On 24 January 2018, the Bango executive team will present an
update on the Bango platform strategy, including new products and
market opportunities for 2018 and beyond. To register your
attendance for this event please email bango@fticonsulting.com.
Bango will announce its Final Results for the twelve months to
31 December 2017 on Tuesday, 13 March 2018.
For further information please contact:
Bango plc
+44 3330 770
Ray Anderson, CEO 247
Rachel Elias-Jones, CFO
Anil Malhotra, CMO
Cenkos Securities plc
+44 131 220
Beth McKiernan / Neil McDonald 6939
FTI Consulting
+44 203 727
Matt Dixon / Rob Mindell 1000
About Bango
Bango is the standard platform chosen by leading global stores
to deliver mobile payments to everyone. As the next billion
consumers adopt their first smartphone and look for universal
payment methods, Bango will be there to unlock the world of apps,
video, music, games and other content that brings those smartphones
to life. Global stores plugging into the Bango Payment Platform
include Amazon (NASDAQ: AMZN), Google (NASDAQ: GOOG), Samsung
(005930: Korea SE) and Microsoft (NASDAQ: MSFT). Bango also
partners with leading payment providers around the world to drive
new users and revenues through its industry-leading mobile payment
solutions. For more information, visit www.bango.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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