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Cornerstone FS raises earnings guidance again, expands product range to more currencies and countries

Cornerstone FS PLC (AIM:CSFS) said its full-year revenue and potential profit will be higher than expected due to strong trading in the second half of the year.

The foreign exchange and payments group said it expects full-year revenues to rise 66% to at least £8mln, helped by an increase in the number of active clients and average transaction value.

Cornerstone FS Raises Profit Guidance Again, Expands Product Range to More Currencies and Countries

Revenue growth and continued cost base management mean the company expects adjusted earnings before interest, tax, depreciation and amortization (EBITDA) for the year to also exceed the board’s previous expectations, it said in a statement today.

Chief executive James Hickman said: ‘We continue to have good trading momentum. We are executing higher value deals and we have more active clients as a result of our enhanced sales efforts and focus on further commercializing our platform.

The company, which is listed on the UK’s Alternative Investment Market (AIM), said its level of growth reflected the progress it had made on the business side, including expanding its sales team and broadening its product range to include a wider range of tradable currencies and countries.

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