Finseta plc (AIM:FIN) moved strongly into profit in the first half of its current financial year adding the good momentum seen in the first six months has continued.
A foreign exchange and payments specialist, Finseta posted revenues up 42% at £5.1 million in the six months to end June, with pre-tax profits of £569,000 against £23,000 a year ago.
Active customer numbers increased to 952 compared with 874 for the first half of 2023 while the average transaction value was up 29% driven by an increased focus on corporate and high-net-worth individual (HNWI) clients.
Jamea Hickman, chief executive, added: "Looking ahead, the strong trading momentum that was experienced during the first six months of 2024 has been sustained into the second half and we are on track to report significant growth for full year 2024, in line with the board's expectations.“
Finseta added its strategy remains to establish a global payments network that will enable clients to be able to pay in from, and pay out to, any jurisdiction
Net cash at the end of the half-year was £0.6 million.