LONDON (ShareCast) - Mobile payments and analytics firm Bango has warned of slower than expected revenue growth.

The company said end user spend - and hence revenue - was slower than predicated and as a result it was unlikely to meet market expectations for the full year.

In a late trading update ahead of its interim results, the firm said growth in revenues from RIM (Blackberry) related App stores, especially from newer carriers, had been slower than expected.

Merchant Securities said at £20m for the year optimistically, the lower revenues would leave profit expectations just above break-even.

However, Bango did indicate that the outlook for next year should be brighter as the group has started work on billing integration for a further 43 carriers, in addition to the existing base of 17, Merchant said.

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