Finseta PLC - London-based provider of cloud-based payment systems - Confirms name change from Cornerstone FS. The name change was announced in March. At the time, it said the change will "differentiate" the company in the marketplace. Read More
(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Wednesday and not separately reported by Alliance News: Read More
(Alliance News) - Cornerstone FS PLC on Wednesday said it plans to change its name to Finseta PLC, in order to "differentiate" the company in the marketplace. Read More
(Alliance News) - Shares in Cornerstone FS PLC were up on Tuesday, after the company received a licence to operate a payments business from the Canadian government's financial authority. Read More
(Alliance News) - Cornerstone FS PLC on Tuesday said it has signed an agreement with MasterCard Inc to launch a corporate card scheme. Read More
Cornerstone FS PLC - London-based cloud-based payment services provider - Says revenue doubled in 2023 to GBP9.6 million from GBP4.8 million the year before, driven by an increases in active customers2 to 906 from 803 in 2022. "Key elements of this have been growth in the sales team and enhancing and expanding the Group's offering, in particular increasing the number of counterparties to broaden the range of currencies and countries where it can transact," it says. Expects an adjusted earnings before interest, tax, depreciation and amortisation of not less than around GBP1.4 million, up from GBP900,000 in 2022. Gross margin improved to around 63% for 2023 from 60.9% the previous year. Chief Executive Officer James Hickman says: "It has been an excellent year for Cornerstone as we made substantial strategic progress culminating in a set of strong financial results which significantly exceeded the board's expectations this time last year... With a highly scalable platform, along with careful management of our cost base, we are also benefitting from the operating leverage within our business and 2023 has seen us report our maiden full year adjusted Ebitda." Read More
(Alliance News) - Stock prices in London closed lower on Monday, with miners and oil firms holding down the FTSE 100 index. Read More
(Alliance News) - Cornerstone FS PLC on Monday said its adjusted earnings will beat current market expectations for 2023. Read More
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday. Read More
(Alliance News) - European equities got off to a slow start on Monday, returning some of last week's gains, though gold's strong run continued as the precious metal notched a record high. Read More
Cornerstone FS PLC - cloud-based payment provider - Says the strong trading momentum that was experienced in the first half of 2023 has continued into the second half, as reported last month, and to-date. Now expects to report 2023 revenue of at least GBP8 million, ahead of prior expectations and representing annual growth of at least 66% from GBP4.8 million in 2022. Says the strong growth reflects the advancements being made across the business, including growing the sales team and enhancing and expanding the group's offering by increasing the number of counterparties. This serves to broaden the range of currencies and countries where it can transact, the company says. Accordingly, says the number of active customers has increased annually and the group's average transaction value has risen. Read More
Cornerstone FS PLC - cloud-based payment provider - Says it will sell its non-trading subsidiary Capital Currencies Ltd for GBP150,000, as it enters a share purchase agreement. Does not disclose buyer. Chief Executive Officer James Hickman says: "This is a great outcome for Cornerstone, generating value from the sale of a licence, that is surplus to our requirements, to a non-competing business. As with the sale of our Avila House subsidiary at the start of the year, which was acquired for its small e-money licence, this transaction also demonstrates the importance of payments and e-money registrations and the value that purchasers place on them." Read More
(Alliance News) - The FTSE 100 ended higher on Tuesday despite higher-than-expected wage growth data in the UK giving the Bank of England something to think about ahead of its interest rate decision next week. Read More
(Alliance News) - The FTSE 100 ended higher on Tuesday despite higher-than-expected wage growth data in the UK giving the Bank of England something to think about ahead of its interest rate decision next week. Read More
(Alliance News) - Cornerstone FS PLC on Tuesday reported a return to profit in the first half of 2023, as revenue surged. Read More
(Alliance News) - Cornerstone FS PLC on Tuesday celebrated an "excellent six months", as it expects to report maiden positive earnings before interest, tax, depreciation and amortisation for the first time. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More