Cornerstone FS shares up as expects earnings above market expectations

(Alliance News) - Cornerstone FS PLC on Monday said its adjusted earnings will beat current ...

Alliance News 4 December, 2023 | 11:01AM
Email Form Facebook Twitter LinkedIn RSS

(Alliance News) - Cornerstone FS PLC on Monday said its adjusted earnings will beat current market expectations for 2023.

Cornerstone shares jumped 31% to 15.09 pence each on Monday morning in London.

The cloud-based payment services provider predicts 2023 adjusted earnings before interest, tax, depreciation and amortisation "materially above current market expectations". For 2022, it had reported an adjusted Ebitda loss of GBP869,319 of 2022, narrowed from GBP1.3 million in 2021.

Chief Executive Officer James Hickman said: "I am pleased to be able to report that we are continuing to experience excellent trading momentum. This reflects the actions that we have taken during the year to enhance our sales team and expand our offer, such as by broadening the range of currencies and countries where we can transact."

By Tom Budszus, Alliance News slot editor

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Cornerstone FS PLC 34.50 GBX 0.00 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures