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Equals upgrades guidance on 'strong' performance in B2B products
StockMarketWire.com
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Payments group Equals said it expected annual adjusted earnings and revenue to top market expectations amid ongoing momentum, led by 'strong' performance in B2B products.
Revenue for 2020 was now expected to be around £1.0 million ahead of market expectations at £29.0 million, reflecting a strong performance in the group's B2B products in December 2020, the company said.
Adjusted earnings before interest, taxes, depreciation and amortisation, or EBITDA, was now expected to be around £1.0 million for 2020, which was comfortably ahead of market expectations of £0.55 million.
'Despite the effects of the Covid-19 pandemic, strong revenues from both payments and banking services underlies this strategic shift [away from Travel Money]...' the company said.
At 8:04am: (LON:EQLS) share price was 0p at 30p
Story provided by StockMarketWire.com
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