TechFinancials reports Revenue increased by 34% to US$9.86m 

TechFinancials (AIM: TECH), a leading technology provider to financial trading brokers, today announces its unaudited interim results for the six month period ended 30 June 2016 (“H1 2016”).

Financial Highlights

• Revenue increased by 34% to US$9.86m (H1 2015: US$7.34m)
• The core software licencing revenue increased by 34% to US$5.39m (H1 2015: US$4.03m)
• The trading platform revenue increased by 35% to US$4.47m (H1 2015: US$3.31m)
• Gross Profit increased by 42% to US$7.36m (H1 2015: US$5.18m)
• Gross Margin increased by 4% to 75% (H1 2015: 71%)
• Operating profit increased to US$1.59m (H1 2015: US$0.10m)
• Profit for the period increased to US$1.25m (H1 2015: loss of US$0.08m)
• Cash position at the period end was US$3.9m (31 December 2015: US$3.4m)
• Basic earnings per share (“EPS”) increased to US$0.0188 from a loss of US$0.001 in H1 2015
• Profit for the period attributable to the owners of the Company increased to US$0.45m (H1 2015: loss of US$0.08m)
• EBITDA attributable to the owners of the Company increased by 98% to US$1.09m (H1 2015: US$0.55m)

Operational Highlights

The Company established DragonFinancials Limited (“DragonFinancials”), a partnership with the owners of Optionfortune Trade Limited (“Optionfortune”), a B2C binary options trading platform focused on the Asia Pacific region, which has been successfully operating from the beginning of the year

Post Period End Operational Highlights

At the beginning of H2 2016 the Company launched its third trading platform, focusing on Contracts for Difference (“CFDs”) which follows on from last year’s launch of the Mobile application and the Forex platform

Asaf Lahav, Group Chief Executive Officer of TechFinancials, commented:

“We are pleased with these solid results. We are now seeing the fruits of our growth strategy and supporting initiatives undertaken during 2015 to return our B2C division to profitability. These include the agreement with Optionfortune, the investment in new product launches and our efforts to penetrate markets with high growth potential by opening an office in Hong Kong”.

“We are grateful for the continued support from our shareholders and we are committed to building on this solid progress during H2 2016. We are confident that we will meet expectations for the full year and we look forward to updating the market on further progress in due course.”

Source: TechFinancials Group

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