Great to see the company being given exposure from a major media outlet
A "fundamental shift" in Australians' shopping habits has helped mobile payments and marketing company Mobile Embrace boost profit by 22 per cent.
Australians' love affair with their smartphones has helped mobile payments and marketing company Mobile Embrace lift full year profit 22 per cent.
Chief executive Chris Thorpe said a high smartphone adoption rate and consumers' willingness to buy things on gadgets were helping drive Mobile Embrace's expansion.
That has continued with the $2.5 million cash acquisition of online and mobile marketer Vizmond Media.
Mobile Embrace provides integrated mobile and digital infrastructure to marketers, publishers and telecommunications companies, and made a $3.05 million net profit in the 12 months to June 30, up from $2.49 million a year ago.
Mr Thorpe said there had been a "fundamental shift" in Australians' shopping habits over the past 12 months, of which Mobile Embrace had been strategically positioned to take full advantage.
"Normally Christmas is our quietest period but it went completely the opposite way," he told AAP.
"We saw a lot of growth because Australians have got to a point where they see the mobile phone as a payment device. We've also got great 4G networks and the screen sizes, so you can actually see what you're buying."
Record fourth quarter revenue of $10.4 million helped the firm, which is active in Australia, Singapore, Switzerland and the UK, exceeding guidance with a 71 per cent increase in revenue to $33 million.
"The push for us rolling out our assets globally is what you'll see from us in 2015/16," Mr Thorpe said.
"There'll be a lot more growth coming from those international markets, but we see growth in Australia as well."
Shares in Mobile Embrace were trading at 1.9 cents in January 2013 before soaring to 30 cents a year later after it secured a partnership with SingTel.
They gained five cents, or 18.9 per cent, to 31.5 cents on Tuesday.
MOBILE EMBRACE'S PROFIT SOARS
* Net profit up 22 pct to $3.045 million
* Revenue up 71 pct to $33.016 million
* No dividend, unchanged from previous year
MBE Price at posting:
31.5¢ Sentiment: Buy Disclosure: Held
