Billing Services Group posts decline in interim revenue

Clearing and financial settlement products provider Billing Services Group reported a decline in interim revenue and earnings.

In the six months to 30 June, the London-listed group posted 29.7% year-on-year decline in earnings before interest, tax, depreciation and amortisation to $3.3m, while revenue fell 14.9% to $18.8m, although the group claimed both figures were in line with expectations.

However, Billing warned revenues in the second half of the year will continue to be affected by the decline in billable long distance and operator service calls initiated on landline phones, which will be partially offset by revenue gains from services to the wireless market.

The company reiterated its full-year guidance and expects revenues to be within a range of $37.0m to $39.0m, and EBITDA to be within a range of $6.5m to $7.0m.

"The first half earnings were in line with expectations,” said group chief executive Norman Phipps.

“Overall revenues declined, but we succeeded in generating additional revenues from higher-margin services for the wireless market.”

Billing shares were down 3.23% to 3.75p at 0836 BST on Thursday.