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TruFin posts annual loss as costs offset 34% rise in revenue
StockMarketWire.com
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Fintech company TruFin posted a full-year loss after a rise in revenue was offset by staff costs and other operating expenses.
Pre-tax losses for the year through December amounted to £8.9 million, compared to year-on-year losses of £11.8 million. Revenue rose 34% to £8.3 million.
TrueFin did not declare any dividends.
'2020 was a significant year for the TruFin Group,' chief executive James van den Bergh said.
'Many of the investments we made in previous years started to yield fruit and we now have a clear line of sight on profitability at a number of our subsidiaries.'
'Existing partnerships were strengthened whilst new partnerships were forged, and we remain fully funded to achieve profitability as a group.
'Much of the momentum we experienced in 2020 is continuing into 2021 and we remain optimistic about our prospects for 2021 and beyond.'
Story provided by StockMarketWire.com
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