Earthport has released a positive trading update for the year to June 2017. Group revenue grew 33% to £30.3m, in line with expectations, driven primarily by a strong increase in transactional revenue from existing customers. Good cost control resulted in a sharp y-o-y reduction in EBITDA loss to £2.9m, with net cash at the period end significantly ahead of our expectations at £11.9m (N+1Se: £9.4m). Earthport continues to invest to secure its position in the vast cross-border payments market, and ....
24 Jul 2017
N+1 Singer - Earthport - Transaction growth leading the way
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N+1 Singer - Earthport - Transaction growth leading the way
Earthport (EPO:LON) | 0 0 0.4% | Mkt Cap: 72.6m
- Published:
24 Jul 2017 -
Author:
Oliver Knott -
Pages:
4
Earthport has released a positive trading update for the year to June 2017. Group revenue grew 33% to £30.3m, in line with expectations, driven primarily by a strong increase in transactional revenue from existing customers. Good cost control resulted in a sharp y-o-y reduction in EBITDA loss to £2.9m, with net cash at the period end significantly ahead of our expectations at £11.9m (N+1Se: £9.4m). Earthport continues to invest to secure its position in the vast cross-border payments market, and ....