Cornerstone FS PLC (AIM:CSFS) sees revenue and underlying profit for the full year coming in higher than previous expectations as strong trading continued into the second half.
The foreign exchange and payments group said it now expects annual revenue growth of 66% to at least £8 million for the current calendar year, boosted by higher active customer numbers and average transaction values.
At last month’s interim results, the company said it believed full-year results would be significantly ahead of market expectations, including a first full year of positive adjusted EBITDA.
In today's statement, it said the increase in revenue it is experiencing and continued careful management of the cost base mean it also expects adjusted EBITDA for the year will be ahead of the board's prior outlook.
"We are continuing to experience excellent trading momentum,” said chief executive James Hickman. “We are executing higher value transactions and with a greater number of active customers, which is being driven by our enhanced sales efforts and focus on more fully commercialising our platform.”
The AIM-listed company said the levels of growth reflect advancements being made across the business, including growing the sales team and expanding its offering with extra counterparties to broaden the range of currencies and countries where it can transact.