Cornerstone FS PLC (AIM:CSFS) said the strong trading seen in the first half of 2022 had continued over the remaining six months.
As a result, total revenue for the year will be approximately £4.3mln, up 87% over 2021, and reflecting significant organic growth plus first contributions from acquisitions.
“A key contributor to this was the group's Asia team that was brought on board in the second half of 2021 as well as the contributions from Capital Currencies and Pangea FX,” the currency specialist added.
Clients served directly accounted for approximately 78% of total revenue (2021: 56%), said the statement.
Cornerstone FS noted this has had a positive impact on gross margin, which is expected to improve to approximately 61% for 2022 compared with 52% for 2021.
Pangea FX is now fully integrated while the sales team overall has been expanded to drive more direct sales and increase digital business, the statement added.