TechFinancials Inc. Trading Update (0880G)
03 August 2016 - 4:01PM
UK Regulatory
TIDMTECH
RNS Number : 0880G
TechFinancials Inc.
03 August 2016
3 August 2016
TechFinancials Inc.
("TechFinancials" or the "Company")
Trading Update
TechFinancials (AIM: TECH), a leading technology provider to
financial trading brokers, provides the following trading update
ahead of the Group's Interim Results for the six months ended 30
June 2016, which are expected to be announced in the first half of
September 2016.
The Group is pleased to report that trading in the first half of
2016 has been strong. Revenue has increased by over 30% from
US$7.34 million in the first half of 2015 to in excess of US$9.6
million during the first half of 2016. Additionally, operating
performance improved substantially compared with the same period in
2015, resulting in EBITDA increasing by over 80% from US$0.55
million to in excess of US$1 million.
Asaf Lahav, Group CEO of TechFinancials, said:
"We are very pleased with the results for the first half of
2016. During the period our B2B division continued to perform
strongly and we are now finally seeing the fruits of our B2C
initiatives. Both revenues and EBITDA are substantially up compared
with the same period last year leaving the Board increasingly
confident about meeting market expectations for the full year."
For further information:
TechFinancials, Inc.
Asaf Lahav, Group Chief Executive
Officer
Yuval Tovias, Chief Financial Officer www.group.techfinancials.com
Jeremy Lange, Chief Operations
Officer / Investor Relations
Grant Thornton UK LLP (Nominated
Adviser)
Colin Aaronson / Jen Clarke / Carolyn Tel: +44 (0) 20 7383 5100
Sansom
Northland Capital Partners Limited
(Broker)
Patrick Claridge / David Hignell Tel: +44 (0) 20 3861 6625
/ John Howes
Peterhouse Corporate Finance (Joint
Broker)
Lucy Williams / Eran Zucker Tel: +44 (0) 20 7469 0932
Yellow Jersey PR Limited (Media Tel: +44 (0) 7825
Relations) 916 715
Felicity Winkles / Alistair
de Kare-Silver
About TechFinancials
TechFinancials plc (AIM: TECH) is a leading proprietary software
solutions company for online brokers delivering services for retail
traders in binary options and other instruments. The Group operates
a B2B division which provides software solutions for binary options
brokers. TechFinancials also operates a B2C division in which it
has an agreement with Optionfortune, a B2C binary options trading
platform registered in Hong Kong.
TechFinancials listed on AIM in March 2015 to facilitate its
expansion in the fast growing global binary options market which is
expected to increase to c. $20bn in trade volume by 2016, double
that of 2014 at c. $10bn (ForexMagnates). A major part of the
Group's strategy is to increase its share in existing markets and
to penetrate emerging and regulated markets with high growth
potential. As part of this, the Company recently announced the
opening of a Hong Kong office to focus on the Asia Pacific region
and signed an agreement with Optionfortune, to run a new B2C binary
options trading platform, which also provides TechFinancials with
exposure to this region.
Further information can be found at
http://techfinancials.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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