Boku H1 earnings in line with expectations

Mobile payments firm Boku expects interim adjusted underlying earnings to be in line with expectations following a strong first-half showing.

Boku said revenues for the six months ended 30 June were pegged to be no less than $24.7m after underlying payments revenues increased 13.5% year-on-year to $22m.

However, the AIM-listed group stated identity revenues had been hit by the Covid-19 pandemic and were now projected to fall from $2.7m to $3.4m.

Despite this, Boku still expects underlying earnings to be at least 65% higher than those recorded at the same time a year earlier.

Chief executive, Jon Prideaux, said: "Boku has traded well in the first half with revenues and EBITDA ahead of the same period last year.

"With payments growth supporting investment in identity, I am confident that the full-year group EBITDA performance will be at least in line with expectations."

As of 1330 BST, Boku shares were down 2.27% at 86p.