First full-year results for the year ended 31 December 2007
12 March 2008
Mobile Credit Baltic plc (AIM: MCRB.L) (the “Company” or “MCB”), the consumer finance provider serving the growing markets of Estonia, Latvia, Lithuania and Finland, today announces its financial results for the financial year ended 31 December 2007, its first full year of operations.
Highlights
- Revenue increased to €3.95m, in line with expectations
- Pro-forma net loss of €2.62m, in line with expectations
- €24m of loans made with a high percentage of returning customers
- Continued expansion in Estonia and Finland
- Successful launch of Lithuanian and Latvian operations
- Distribution agreement with Latvian Post to further expand Credit24 reach in Latvia
- Significant improvements in repayment and collection performance, underpinned by a growing proprietary customer database
- Expansion of both short-term product range and launch of larger longer-term loans
- Significant further growth expected, and on target for profitability during 2008
Bertil Rydevik, Chairman, said:
“During the past year and half the Company has progressed successfully from start-up and is now an established business in four countries, with recurring revenues, robust growth and significant opportunities for continued expansion. We will continue to develop the business during 2008 and beyond, and remain as confident as ever about our prospects.”
Download
The full results are available to download in PDF format
Mobile Credit Baltic plc:
| Rami Ryhänen, Chief Executive | +372 5300 8332 |
| rami@mobilecredit.ee | www.mobilecreditbaltic.com |
| Henry Nilert, CFO | +358 451 370 065 |
| henry@mobilecredit.ee | www.mobilecreditbaltic.com |
Media enquiries:
Allerton Communications:
| Peter Curtain | +44 20 7812 6477 |
| peter.curtain@allertoncomms.co.uk |
Nominated Adviser
Libertas Capital:
| Jakob Kinde / Stephen Pickup | +44 20 7569 9650 |