6th Jan 2025 10:17
(Alliance News) - TruFin PLC on Monday said it expects to report a swing to an adjusted profit for 2024 as revenue climbed considerably, citing popular games Balatro and Abiotic Factor.
TruFin is a London-based holding company of three growth-focused technology businesses operating in early payment provision, invoice finance and mobile games publishing.
The company expects adjusted pretax profit of over GBP500,000 for 2024, compared to a loss of GBP3.3 million in 2023.
That is on the back of revenue nearly trebling to GBP54.0 million from just GBP18.1 million in 2023.
Adjusted earnings before interest, tax, depreciation and amortisation are expected to come in at GBP7.0 million, swung from a loss of GBP3.5 million.
TruFin said the significantly better than expected performance was driven by "exceptional" year-end performances from Balatro and Abiotic Factor, which are two of Playstack Ltd's games launched during 2024.
Chief Executive Officer James van den Bergh said: "The success of Balatro should not be underestimated and it has been a joy to watch it build throughout the year. However, it is important to also praise the team for the exceptional performances of Abiotic Factor and The Rise of the Golden Idol. Success breeds success and with eight game releases due in 2025 and a growing pipeline of game releases for 2026, we are closer than ever to monetising shareholder value from Playstack.
"Following Vicki Sloane's appointment as Chief Executive Officer of Oxygen it is very pleasing to see her team deliver new highs across the board. Notably, this is the first year that shareholders have enjoyed the benefits of Oxygen's inherent operational gearing. With more than 82% of the next five years' Early Payment revenues already contracted, shareholders have much to look forward to."
TruFin shares rose 1.6% to 88.40 pence each on Monday morning in London.
By Tom Budszus, Alliance News slot editor
Comments and questions to [email protected]
Copyright 2025 Alliance News Ltd. All Rights Reserved.