23rd Apr 2025 14:25
(Alliance News) - Finseta PLC on Wednesday reported that it made a "strong start to trading" in 2025, driven by growth in active customers.
Finseta is a London-based foreign exchange and payments company which offers multi-currency accounts and payment solutions to businesses and individuals.
Pretax profit climbed 7.7% to GBP1.4 million in 2024 from GBP1.3 million in 2023.
Revenue grew 19% to GBP11.4 million in 2024 from GBP9.6 million in 2023.
Finseta shares rose 10% to 32.58 pence in London on Wednesday afternoon.
The rise in profit and revenue was primarily as a result of an increase in active customers, according to the company, reflecting the expansion of Finseta's sales team and introducer network.
Looking forward, the firm expects its new product offerings, particularly its corporate card scheme and mass payments, alongside its operations in Dubai and Canada to increase its revenue for the second half of 2025 and beyond.
Finseta expects to report "significant revenue growth in 2025" in line with its own expectations.
For the medium term, the company said its key strategic initiatives aim to sharply boost sales growth and increase profitability.
Chief Executive Officer James Hickman said: "We have made a strong start to the new financial year, with continued growth in the number of active customers, and with the foundations of our business having been further enhanced, the board remains confident in our ability to deliver sustained value for our shareholders. We look forward to reporting on our progress."
By Olivia Mason-Myhill, Alliance News reporter
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.
Related Shares:
Finseta