Mobile-banking software maker Monitise has said it expects revenue for the year ended June to be lower than the previous year.
The company, which recently formed a joint venture with Spanish bank Santander to invest in financial technology, said revenue will be between £88 million and £90m for the year ended June 30.
It had posted revenue of £95.1m in the previous year.
The company warned in January that revenue would not be as high as expected and its losses would be greater than analysts had expected, blaming changes in its business model.
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