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Finseta PLC on Wednesday said it is taking a ‘more cautious view’ for its full-year outturn, as it swung to an interim loss amid top-line growth. The London-based foreign exchange and payments solutions company swung to a pretax loss of £258,639 for the six months that ended June 30, from profit of £569,271 a year earlier. Shares in Finseta fell 20% to 17.77 pence on Wednesday afternoon in London. Revenue, however, improved 16% to £5.9 million from £5.1 million, as active customers grew 16% to 1,101 from 952. Finseta said this expansion reflects the growth of its sales team and introducer network. It added that it also onboarded new customers to its platform in the first half, not included in the active customer figure due to not having transacted yet, with this number ‘significantly higher than H1 2024, and ahead of management’s expectations.’ Driving the weaker earnings were increased costs, as administrative expenses rose 40% to £3.9 million from £2.8 million. Looking ahead, Finseta said it is taking a more cautious view for its full-year. This follows some delays to payment transactions in the first half. It noted an improvement in dollar-related business as foreign exchange rates normalise, but to ‘a lesser extent than previously anticipated.’ Fineseta said it now expects to report year-on-year revenue growth for 2025 of around 11% from £11.4 million reported in 2024. The company added that operating costs are expected to be lower than anticipated for the full year, owing to the maintenance of cost discipline. ‘This has been another period of significant strategic delivery for Finseta. We have invested in several initiatives that are diversifying our revenue streams and position us for sustainable growth,’ said Chief Executive James Hickman. ‘While our revenue growth has been constrained by global macroeconomic factors, particularly the impact on foreign exchange rates of US trade policy, it is pleasing to see more positive momentum as we progress through H2, albeit to a lesser extent than initially expected.’ Copyright 2025 Alliance News Ltd. All Rights Reserved.
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