MobilityOne (AIM:MBO), the AIM-listed e-commerce payment infrastructure provider, reported a narrower loss for the six months to 30 June, even as revenue slipped on weaker prepaid airtime and bill payment sales in its core Malaysian market.
Revenue fell 2% to £113.7 million, down from £116.0 million a year earlier, as lower contributions from mobile prepaid reloads and bill payments outweighed growth in electronic data capture terminals, payment gateway services and third-party e-wallet applications.
The loss after tax narrowed to £1.02 million from £1.14 million in the prior-year period, which the company attributed to an improved gross profit margin across its business segments.
Cash and cash equivalents, including fixed deposits, stood at approximately £3.03 million, broadly flat against £3.00 million a year earlier, while secured borrowings rose to £7.47 million from £6.94 million, funding working capital and higher operating costs.
The group's outlook hinges on a long-running disposal and joint-venture arrangement with Super Apps Holdings, tied to a merger between Technology & Telecommunication Acquisition Corporation and Super Apps.
Under the deal, MobilityOne's subsidiary is due to receive RM40.0 million (approximately £6.84 million) in cash within 14 days of the merger completing, followed by a further RM20.0 million (approximately £3.42 million) within 180 days.
The SEC has cleared the merger's proxy statement and shareholders have approved it, but TETE has extended its completion deadline to 20 February 2027 without confirming a completion date.
"The Group expects the Merger Exercise will complete and to receive the first payment... soon, which will represent a positive and material financial development for the Group," chairman Abu Bakar bin Mohd Taib said.
Separately, the group's health technology associate, Hati, remains subject to a Malaysian winding-up order linked to pre-2021 loans, now under appeal, while operations continue unaffected.
MobilityOne said it expects a challenging environment to persist through the remainder of 2026.