20th May 2025 10:39
(Alliance News) - TruFin PLC on Tuesday said it now expects results for 2025 to be "materially ahead" of market expectations, and intends to launch a new share buyback programme for up to GBP4 million.
TruFin is a London-based holding company of three growth-focused technology businesses operating in early payment provision, invoice finance and mobile games publishing.
Shares in TruFin were up 5.9% at 88.40 pence each in London on Tuesday morning. The stock has risen 8.5% over the past year.
The firm forecasts group revenue in 2025 to be not less than GBP51 million, lower than GBP55.0 million in gross revenue in 2024 but still higher than the GBP18.1 million in gross revenue reported for 2023.
Adjusted earnings before interest, tax, depreciation and amortisation is anticipated at not less than GBP8 million, which would be up 5.3% from GBP7.6 million in 2024. The firm had swung from a GBP3.5 million adjusted Ebitda loss in 2023.
Adjusted pretax profit for the full year is estimated to be at least GBP3 million, compared to GBP900,000 in 2024 and a GBP6.6 million loss in 2023.
Gross revenue for the four months that ended April 30 was around GBP25 million.
"We're off to a strong start in 2025. Playstack continues to outperform, with the success of Balatro and Abiotic Factor significantly enhancing its position as a compelling asset-whether as a standalone business or for a strategic buyer," said Chief Executive Officer James van den Bergh.
"Given the strength of our balance sheet and the board's view that the current share price undervalues our assets and their future prospects, we believe a share buyback is a prudent step to further enhance shareholder returns."
Trufin intends to "shortly initiate" a programme for up to GBP4 million, with a further announcement to be made "in due course".
Reasoning behind the programme included TruFin currently holding capital in excess of its liquidity requirements, its shares trading at a discount to its internally calculated intrinsic value, and all high-return investments being fully funded with no immediate acquisition opportunities available.
The company noted it will continue to explore reinvestment opportunities, acquisitions, and the continual returning of excess funds in a "disciplined and value-enhancing manner".
CEO James van den Bergh continued: "We remain confident in the group's outlook for 2025 and beyond, and we look forward to updating shareholders on our continued progress throughout the year."
By Emily Parsons, Alliance News reporter
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