3rd Aug 2016 07:21
LONDON (Alliance News) - TechFinancials Inc on Wednesday said trading in the first half of 2016 was strong, with revenue and earnings both increasing.
The company, which provides technology to financial trading brokers, said revenue in the first half grew 30% year-on-year to USD9.6 million.
Additionally, earnings before interest, taxation, depreciation and amortisation increased over 80% to USD1.0 million.
We are very pleased with the results for the first half of 2016. During the period our B2B division continued to perform strongly and we are now finally seeing the fruits of our B2C initiatives," said Chief Executive Asaf Lahav.
"Both revenues and Ebitda are substantially up compared with the same period last year leaving the board increasingly confident about meeting market expectations for the full year," he added.
Shares in TechFinancials were up 38% to 11.73 pence early Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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