James van den Bergh of Trufin: H1 revenues increased by 35% & more significant growth expected in H2 & in 2024
Episode 1647, Oct 03, 2023, 10:11 AM
James van den Bergh, CEO of Trufin #TRU discusses their interim results for 2023 which saw the group revenues increase by 35% to £8.5m and more significant growth is forecast for H2 and in 2024.
Highlights
· Combined gross revenue for the Group increased 35% to £8.5m (H1 2022: £6.3m)
· Gross revenue at Oxygen Finance Group Limited (together with its subsidiaries) ("Oxygen") increased by 8% to £2.7m (H1 2022: £2.5m), driven by growth in its core UK Early Payments market. EBITDA was flat at £0.3m as Oxygen executed a targeted investment program focused on maximising the revenue potential embedded in its client base
· Gross revenue at Satago Financial Solutions Limited ("Satago") increased 180% to £1.7m (H1 2022: £0.6m) with strong growth in subscription services and invoice financing facilities
· Playstack Ltd ("Playstack") recorded 7% revenue growth to £2.5m (H1 2022: £2.3m), with the highly anticipated launch of The Last Faith on track for a Q4 release
· Gross revenue at Vertus Capital Limited ("Vertus") increased 67% to £1.5m (H1 2022: £0.9m), driven by new facilities, interest rate rises and early settlements
· TruFin Group's EBITDA loss improved 12% to £3.8m (H1 2022: £4.3m)
· TruFin Group's loss before tax was £6.2m (H1 2022: £4.8m) as a result of a one-off net impairment loss of £1.3m on goodwill (due to the anticipated sale of TruFin's stake in Vertus) plus a depreciation and amortisation charge of £1.2m (H1 2022: £0.5m)
TO READ THE FULL RNS CLICK HERE
Highlights
· Combined gross revenue for the Group increased 35% to £8.5m (H1 2022: £6.3m)
· Gross revenue at Oxygen Finance Group Limited (together with its subsidiaries) ("Oxygen") increased by 8% to £2.7m (H1 2022: £2.5m), driven by growth in its core UK Early Payments market. EBITDA was flat at £0.3m as Oxygen executed a targeted investment program focused on maximising the revenue potential embedded in its client base
· Gross revenue at Satago Financial Solutions Limited ("Satago") increased 180% to £1.7m (H1 2022: £0.6m) with strong growth in subscription services and invoice financing facilities
· Playstack Ltd ("Playstack") recorded 7% revenue growth to £2.5m (H1 2022: £2.3m), with the highly anticipated launch of The Last Faith on track for a Q4 release
· Gross revenue at Vertus Capital Limited ("Vertus") increased 67% to £1.5m (H1 2022: £0.9m), driven by new facilities, interest rate rises and early settlements
· TruFin Group's EBITDA loss improved 12% to £3.8m (H1 2022: £4.3m)
· TruFin Group's loss before tax was £6.2m (H1 2022: £4.8m) as a result of a one-off net impairment loss of £1.3m on goodwill (due to the anticipated sale of TruFin's stake in Vertus) plus a depreciation and amortisation charge of £1.2m (H1 2022: £0.5m)
TO READ THE FULL RNS CLICK HERE