earthport plc (EPO) Snapshot

Earthport plc announced a fully automated payment service into Morocco is now live. The route is the first low value payment service for Earthport in North Africa and will enable the Company to expand its network infrastructure into the region. The expansion into Morocco comes in response to the growing demand for low-cost payments into the region. The payment route will enable Earthport's clients to quickly launch new payments services into the country and deliver faster, more cost efficient and more transparent remittance transfers through Earthport's local clearing capabilities.

Earthport announced an agreement with Viamericas to support its strategic growth outside the Americas. Under the agreement, Viamericas will leverage Earthport's global cross-border payment capabilities to service new routes outside Latin America and the Caribbean. This agreement will enable Viamericas to expand its customer base internationally and provide more efficient, predictable and cost-effective direct-to-bank remittance transfers. Earthport was uniquely placed to support Viamericas' expansion into new territories, while enabling unrivalled efficiency and transparency of cross-border payments. The new service will enable Viamericas' customers to benefit from low-cost remittance transfers and more transparent payments, including advance disclosure of all fees involved in the transfer.

Earthport plc announced unaudited consolidated earnings results for the six months ended December 31, 2012. For the period, revenue was £1,825,000, operating loss was £4,512,000, loss before taxation was £4,506,000 and loss and total comprehensive income attributable to owners of the parent was £4,506,000 or 1.55 pence per basic and diluted share against revenue of £1,387,000, operating loss of £5,164,000, loss before taxation of £5,187,000 and loss and total comprehensive income attributable to owners of the parent of £5,187,000 or 2.57 pence per basic and diluted share for the same period a year ago. Net cash used in operating activities was £3,467,000 and purchase of property, plant and equipment was £23,000 against net cash used in operating activities of £4,893,000 and purchase of property, plant and equipment of £133,000 a year ago.