9th Feb 2016 09:47
LONDON (Alliance News) - Tungsten Corp PLC on Tuesday said trading in the third quarter of its financial year was in line with market expectations, and as such revenue for the full year will be in line with previous guidance.
The electronic invoicing, analytics and financing company said it continues to expect its earnings before interest, tax, depreciation and amortisation loss for the year ending April 30, excluding one-off items, to be no more than GBP15 million, or GBP19 million including one-off items.
Free cash at the year-end should also be at least GBP8 million as monthly cash outflow continues to improve, Tungsten said.
Tungsten added it is confident it is on track to achieve break-even on an Ebitda basis by the end of financial 2017, and positive Ebitda for the six months ending October 31, 2017.
Shares in Tungsten were trading down 5.3% at 62.25 pence on Tuesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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