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£400k cost savings!! Everything being directed at payments.
Impressive savings when you consider previous numbers below.
For the half year to 31 July 2020 (the "Period") the Group has seen an improvement in performance resulting in a loss before tax of £567,000 (H1 19: £1.318m loss) (year to 31 January 2020: £4.266m loss
Agree Focus on payments and cards. Tintra has acted quickly in terms of business strategy and cost savings. More top line growth and hopefully we will be quids in
Looks like PIs still just don't get this yet. Maybe results due the w/c 26 July will show 'em? Then we have the AGM 31 July. I do hope the new boss has plenty to say in his results commentary.
Another RNS (they are like buses here all of a sudden). A loan increase for working capital.
Working capital for payments division which is why Tintra got involved and expected to grow substantially in overseas markets for HNW clients.
Another recycled story. Groundhog day?
w/c 26 July will provide much more related information on strategy for the payments division. The new boss is clearly very experienced and will be focused on this:
WHAT SDH OFFERS
SDH offers a variety of services to all clients, which can be engaged in isolation or used collectively.
Simplifying your payment transactions, we offer:
Merchant services across all common major credit card brands
FX, specialising in bloodstock, property, boating, travel
Cross-border payments from and to virtually any market
Prepaid cards including virtual cards
Payroll and banking as a service including named UK format bank accounts
GBP, EURO and multi-currency accounts
SDH see opportunity where others do not. With a broad array of services from accounts to card issuing we are able to meet your business or individual requirements, whether you are a start up or multinational corporation, whether this is your first account or you have a well established banking network around the world.
Tintra is part of Tintra Holdings, an organisation whose primary activities are as a hybrid Family Office and investment management firm based in Dubai which focuses on providing solutions to emerging market clients.
Tintra and SJH have identified strategies that will allow for a range of 'FinTech' services to be delivered through the systems and infrastructure that SJH has developed in recent years, to grow those systems in line with identified gaps in the market and to produce a sales and marketing system that will deliver the current offering of SJH products to existing and new markets in more effective ways. The transaction will also provide to SJH broader management services, focused on marketing, business development, market intelligence and strategy.