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this was 50p in October 2020.........7-8P is cheap and good value imho
i am positive on this
SP Angle has upgraded its forecasts and Cornerstone FS could make a profit in 2024.
Increasing direct revenues mean that gross margins are improving. There was positive EBITDA in the first quarter.
Full year forecast revenues have been increased from £5.7m to £6.5m
Proactive interview out.
CEO explains that the Q2 caveat relates mainly to number of Bank Holidays in Q2 meaning reduced days to trade and said simply that "It's better to under promise and over deliver".
Very upbeat overall for the whole year. Lots of news expected with results or maybe even earlier.
https://www.proactiveinvestors.co.uk/companies/news/1012609/cornerstone-fs-upbeat-after-exceptional-first-quarter-1012609.html
The old adage buy on the rumour sell on news applies.
2nd quarter within budget but not likely to be spectacular hence reason for little movement and no volume.
The q2 caveat stopped this moving this morning because no one can understand it.
volume would lift this share price very much i do agree....its still early morning and very good RNS
New uncle ....press coverage today should help...agree this is cheap....expect some coverage and more people buying over the next few days.....
20 to 25p but if no one's buying what's the point?
newuncle what do you think these are worth in the medium term?
(Alliance News) - Cornerstone FS PLC on Wednesday declared it had an "exceptional" first quarter of trading, but warned that it does not expect the momentum to continue.
Shares in the cloud-based payment provider were up 6.0% to 7.95 pence each in London on Wednesday morning, having earlier fallen by more than 9%. The stock remains down 55% over the past 12 months.
Cornerstone said the "strong trading momentum" experienced in 2022 increased in the first quarter of 2023. As a result, the company now expects quarterly revenue to beat management's expectations, with it coming in at about GBP2.0 million, versus GBP950,000 a year ago.
Further, the company said it has achieved its first quarter of being earnings before interest, tax, depreciation and amortisation positive.
Cornerstone explained that the better-than-expected performance reflects growth across the business and the progress being made as a result of the increased focus on revenue generation. This is thanks to the sales team that was introduced at the end of last year and an expanding partnership network.
However, Cornerstone warned that it does not expect this "exceptional" trading to continue at the same rate in the second quarter, with management expecting revenue to revert to its original budgeted levels for the period.
The company plans to release its full-year results for 2022 in May. It expects to report revenue of about GBP4.8 million, more than doubled from GBP2.3 million in 2021.
Chief Executive Officer James Hickman said: "This has been an exceptionally strong quarter for Cornerstone. We have generated substantial revenue growth, compared to the same quarter last year, driven by our enhanced sales efforts as we focus on commercialising our existing platform.
"We are cautiously optimistic both in terms of revenue performance and Ebitda positivity for the 2023 financial year."
By Sophie Rose, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Cornerstone FS achieves first EBITDA-positive quarter as strong sales momentum continues.
Cornerstone FS PLC (AIM:CSFS) hailed a first profitable quarter as strong momentum from last year has increased in 2023.
After the foreign exchange and payments specialist confirmed that revenue for the past calendar year is expected to have more than doubled to roughly £4.8mln, it said the first three months of 2023 have seen a continuation of that trend.
Revenue in the first quarter increased to around £1.95mln from £0.95mln at the same point last year, with it being the first quarter of positive underlying earnings (EBITDA).
This performance was better than expected and the company said it reflects growth across the business, helped by an increased focus on revenue generation and a growing partnership network, with chief executive James Hickman adding that it was “driven by our enhanced sales efforts as we focus on commercialising our existing platform”.
He added: “We are cautiously optimistic both in terms of revenue performance and EBITDA positivity for the 2023 financial year.”
Final results are scheduled to be published next month.
so pretty cheap today....imho.
early days only 1 hour trading...mms will move up and down
Gone Red, nit many takers after todays news. Guess the caveat re Q2 earnings has spooked some. Very disappointing volumes so far.
now on the leadeboard
expect it bounce back to 12-15p
As noted in the trading update announcement on 11 January 2023, the Group experienced strong trading momentum through FY 2022 and expects to report total revenue for the year ended 31 December 2022 of approximately £4.8m. This momentum increased in Q1 2023 beating management's expectations with unaudited revenue expected to be approximately £1.95m versus £0.95m for the same period last year. This better-than-expected performance reflects growth across the Group's business and the progress being made as a result of the increased focus on revenue generation with the sales team that was introduced at the end of last year and an expanding partnership network. Additionally the Group achieved its first, unaudited, quarter of being EBITDA positive.
agree
THIS MORNING
very cheap imho
Late buy for £15k
UP AGAIN!
JB,
Yup all BUYS and over the last week buys have outnumbered sells by 6:1
GST Type rerate coming - SP moving with buys