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Tap Global Group PLC on Friday said its chief financial officer will step down, despite the company reporting a narrowed full-year loss and revenue growth. Shares in Tap Global fell 15% to 2.07 pence on Friday afternoon in London. The London-based operator of cryptocurrency payment and settlements said pretax loss narrowed to £5.7 million for the year ended June 30, from £18.2 million the year before. This was driven primarily by the impairment loss on goodwill, narrowing 70% to £4.7 million from £15.9 million. Revenue rose 31% to £3.5 million from £2.6 million, which, along with the cost of sales falling 20% to £862,850 from £1.1 million, further bolstered the bottom line. Operating expenses also fell 6.6% to £3.8 million from £4.1 million. Tap Global attributed revenue growth mostly to higher trading volumes and increased commission income, driven by the user base expanding and improved product functionality. The number of registered users at financial 2025 year-end was 391,000, increasing 6.0% from 368,844 at the end of the prior year. The group’s cash position as at June 30 stood at £810,729, up 43% from £565,281 the year before, due to an equity raise of £1.0 million in gross proceeds from a placing in February last year. Looking ahead to financial 2026, the company said it has a ‘clear pathway to monetising the infrastructure now firmly in place’ and will prioritise the scaling of its business-to-business segment. ‘These programmes are expected to support sustained revenue growth, improved operating leverage and deeper engagement across both retail and institutional segments,’ Chief Executive Arsen Torosian. ‘The board is confident in the company’s strategic positioning and believes that the operational progress achieved to date provides a strong foundation for continued growth through FY26 and beyond.’ Tap Global on Friday also announced that Chief Financial Officer Steven Borg has stepped down from his role, effective from next Friday. ‘The board would like to thank Steven for his contribution to the company, particularly during the period surrounding the group’s admission to AIM and wishes him well in his next endeavours,’ said Non-Executive Chair Manuel De Luque Muntaner. The company has appointed Andrew Milmine as head of finance. ‘Andrew is a highly qualified finance professional with experience of senior leadership in BV Group and 15 years of wider experience within the gaming and fintech,’ Muntaner added. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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