Finseta (FIN)

Sector:

Support

Index:

FTSE AIM All-Share

40.80p
   
  • Change Today:
    -1.20p
  • 52 Week High: 43.73
  • 52 Week Low: 7.50
  • Currency: UK Pounds
  • Shares Issued: 57.42m
  • Volume: 622,596
  • Market Cap: £23.43m
  • RiskGrade: 84

Cornerstone FS trading well ahead of market forecasts

By Josh White

Date: Monday 04 Dec 2023

LONDON (ShareCast) - (Sharecast News) - Foreign exchange and payment solutions company Cornerstone FS reported significant progress in its financial performance in an update on Monday.
The AIM-traded firm said that building on the momentum it highlighted in its October announcement, it had continued to experience robust trading activity.

It put the positive trend down to advancements made across the business, which led to year-on-year growth in active customers and average transaction value.

The group said that as a result, its expectations of revenue and adjusted EBITDA for the year ending 31 December now surpassed current market forecasts by a substantial margin.

"I am pleased to be able to report that we are continuing to experience excellent trading momentum," said chief executive officer James Hickman.

"This reflects the actions that we have taken during the year to enhance our sales team and expand our offer, such as by broadening the range of currencies and countries where we can transact.

"With a highly scalable platform, along with careful management of our cost base, we are now benefitting from the operating leverage within our business as the increase in sales is driving even stronger growth in adj. EBITDA.

"Accordingly, the board continues to have great confidence in the future of the group."

At 1119 GMT, shares in Cornerstone FS were up 23.57% at 14.21p.

Reporting by Josh White for Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Finseta Market Data

Currency UK Pounds
Share Price 40.80p
Change Today -1.20p
% Change -2.86 %
52 Week High 43.73
52 Week Low 7.50
Volume 622,596
Shares Issued 57.42m
Market Cap £23.43m
RiskGrade 84

Finseta Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
99.88% above the market average99.88% above the market average99.88% above the market average99.88% above the market average99.88% above the market average
98.00% above the sector average98.00% above the sector average98.00% above the sector average98.00% above the sector average98.00% above the sector average
Income Not Available
Growth
58.54% above the market average58.54% above the market average58.54% above the market average58.54% above the market average58.54% above the market average
61.62% above the sector average61.62% above the sector average61.62% above the sector average61.62% above the sector average61.62% above the sector average

Finseta Dividends

No dividends found

Trades for 23-May-2024

Time Volume / Share Price
15:26 50,000 @ 42.56p
15:48 20,000 @ 41.88p
16:35 15,000 @ 40.80p
16:35 15,000 @ 40.80p
16:27 2,169 @ 41.48p

Finseta Key Personnel

CFO Judy Amanda Happe
CEO James Hickman

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