Profit of 3.3m for the half year, ahead of forecasts but operating cash was just 1.3m. Could just be down to working capital but hard to say when there's no comparable balance sheet.
Also, I don't really get the business. One side is this virtual currency that lets merchants exchange goods without using cash? How does BPS get paid?
The other side seems to be a yet another different consumer payment solution. If there's one thing the world doesn't need more of, its digital payment solutions.
Ultimately, I don't really get what service BPS is providing or what need it is trying to address but that could just be my lack of understanding. Does look cheap based on current profit figures and growth plans laid out in the presentations though.
BPS Price at posting:
84.0¢ Sentiment: None Disclosure: Not Held
