TruFin PLC (AIM:TRU) shares rose 15% as investors responded positively to a trading update revealing significant sales growth and the company’s first projected year of positive earnings.
The company expects 2024 revenues to exceed £42 million, up 132% from £18.1 million in 2023, driven by strong performance from its gaming division, Playstack. EBITDA is forecast to be around £3.5 million, marking a major turnaround from a £3.5 million loss last year.
Despite absorbing the financial impact of a terminated contract at its subsidiary, Satago Financial Solutions, TruFin reported an improved adjusted loss before tax of £2.5 million, compared with £6.6 million in 2023.
The shares rose 10p to 74p.