|
Tap Global Group PLC on Friday said it anticipates record revenue and its first full year of positive earnings before interest, tax, depreciation, and amortisation, supported by strong trading and a boost from recovering historical bitcoin rewards. Its shares rose 13% to 1.70 on the Aquis Stock Exchange on Friday. The provider of app-based cryptocurrency payment and settlement services said it had recouped approximately five bitcoin, currently worth about £400,000, previously paid out as referral incentives between 2020 and 2024. Following a recent review of registered user accounts, the company identified the assets as eligible for recovery and has added them to its balance sheet. Tap said the recovered bitcoin will be managed under its digital asset policy, which allows it to hold up to 50% of cash and equivalents in digital form. The accounting treatment is being finalised, but the income is expected to be recognised as other income . ‘The income boost will further support ongoing growth initiatives including the activation of new revenue streams,’ said Chief Executive Officer Arsen Torosian. ‘We look forward to reporting record revenues and a first full year of positive Ebitda.’ The company highlighted strong trading in the second half of its financial year ending June 30, following record revenue in the first half. Copyright 2025 Alliance News Ltd. All Rights Reserved.
|
