8th Nov 2019 10:10
(Alliance News) - TruFin PLC on Friday said losses narrowed in the third quarter and revenue jumped 73% as the company is experiencing "pleasing growth".
The financial technology investor said that during the three months to September 30, gross revenue rose 73% to GBP2.1 million from GBP1.2 million a year ago.
The company's operating loss narrowed to GBP1.3 million in the third quarter from GBP1.6 million compared to the same period last year.
Back in July TruFin announced a restructuring in order to reduce head office costs.
Chief Executive Officer James van der Bergh said: "I am pleased to report that following the significant restructuring and personnel changes that have occurred over the last six months the group is experiencing pleasing growth."
"Losses are in line with expectations and the group will benefit from a period of corporate stability, allowing the TruFin subsidiaries to focus on realizing their full potential," van der Bergh said.
TruFin shares were down 5.8% in London at 43.80 pence each on Friday.
By Loreta Juodagalvyte; [email protected]
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