Shares of Finseta Plc (FIN.L) are down 24 percent on Wednesday's trading after the company reported first-half loss, compared to last year's profit. The company said that results were impacted by higher operating expenses incurred during the half-year period. Revenue, however, was up 16 percent.
On the LSE, FIN.L is down 24 percent on Wednesday's trading at 17.62 pence.
The foreign exchange and payments solutions company posted net loss of 0.2 million pounds or 0.37 pence per share in the first half of the year, compared to profit of 0.5 million pounds or 0.74 pence per share in the same period last year.
According to Finseta, pre-tax loss came in at 0.3 million pounds, compared to pre-tax profit of 0.6 million pounds in the previous-year period. The company recorded a tax credit of 48 thousand pounds in the first half of 2025, as against a tax expense of 118 thousand pounds in the corresponding period a year ago.
The company's half-yearly revenue rose 16 percent to 5.9 million pounds from 5.1 million pounds in the previous-year period, helped by an increase in the number of active customers. Operating expenses for the period climbed to 3.9 million pounds from 2.8 million pounds in the same period of fiscal 2024.
Looking ahead, the company now has a more cautious view of the year ahead, following certain delays in some payment transactions done in the first half of fiscal 2025. Subsequently, Finseta now projects year-on-year annual revenue growth of around 11 percent.
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