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Fonix Mobile - Shares surge above 250p

March 2024

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • FNX
  • Price:
  • 249p
Shares in Fonix Mobile jumped to new highs when its half year update revealed trading ahead of expectations with gross profit and adjusted EBITDA growing almost 18% to £9.2m and £7.3m. This was driven by an increase in total payment transactions of 15.3% to £158m with December a record month in the UK and overseas. Its key business segments of payments and messaging both grew in the period and it retains a growing pipeline of client prospects going into 2024. Fonix highlights “high levels of repeating income, continued growth from existing clients and opportunities for expansion internationally as reasons for confidence in future prospects”. With Fonix planning to pay out at least 75% of earnings per share, there’s a growin ...

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