Supply@ME Capital plc (LSE:SYME) expects to generate consolidated revenues in the year to end December 2021 of between £3.8mln-£4.9mln, the inventory platform specialist said in a trading update.
The guidance is based on proposed fees that will be charged by the group and only includes those that are expected to meet the criteria for revenue recognition in 2021 in line with IFRS 15.
As a result, SYME’s directors expect a further similar amount (in the range of £3.9mln-£4.9mln) to be deferred and recognised as revenue in the year ending 31 December 2022.
The forecast for both consolidated and deferred revenues for 2021 includes platform monetisation (C.IM) and investment advisory (IA) fees.
Over half of the C.IM revenue relates to monitoring, controlling and reporting services, which are expected to be recurring over an indicative multi-annual period of 3 years, said the statement.
SYME added the forecast does not reflect any contribution from ongoing developments in Captive Bank funding, the International Chamber of Commerce partnership and execution of Shariah-compliant inventory monetisation transactions.