Cornerstone Fs Share News (CSFS)

EARNINGS: International Biotechnology bullish; Andrews Sykes profit up

(Alliance News) - The following is a round-up of earnings for London-listed companies, issued on Wednesday and not separately reported by Alliance News:

UK earnings, trading statements calendar - next 7 days

Cornerstone FS plans to change name to Finseta as part of growth plan

(Alliance News) - Cornerstone FS PLC on Wednesday said it plans to change its name to Finseta PLC, in order to "differentiate" the company in the marketplace.

Cornerstone FS gets licence to operate in Canada

(Sharecast News) - Foreign exchange and payments specialist Cornerstone FS has received its official authorisation to operate in Canada, it announced on Tuesday.

Cornerstone up after receiving licence for operations in Canada

(Alliance News) - Shares in Cornerstone FS PLC were up on Tuesday, after the company received a licence to operate a payments business from the Canadian government's financial authority.

Cornerstone FS shares climb as wins contract with Mastercard

(Alliance News) - Cornerstone FS PLC on Tuesday said it has signed an agreement with MasterCard Inc to launch a corporate card scheme.

IN BRIEF: Cornerstone FS 2023 revenue doubles and earnings grow

Cornerstone FS PLC - London-based cloud-based payment services provider - Says revenue doubled in 2023 to GBP9.6 million from GBP4.8 million the year before, driven by an increases in active customers2 to 906 from 803 in 2022. "Key elements of this have been growth in the sales team and enhancing and expanding the Group's offering, in particular increasing the number of counterparties to broaden the range of currencies and countries where it can transact," it says. Expects an adjusted earnings before interest, tax, depreciation and amortisation of not less than around GBP1.4 million, up from GBP900,000 in 2022. Gross margin improved to around 63% for 2023 from 60.9% the previous year. Chief Executive Officer James Hickman says: "It has been an excellent year for Cornerstone as we made substantial strategic progress culminating in a set of strong financial results which significantly exceeded the board's expectations this time last year... With a highly scalable platform, along with careful management of our cost base, we are also benefitting from the operating leverage within our business and 2023 has seen us report our maiden full year adjusted Ebitda."

LONDON MARKET CLOSE: FTSE 100 slips as miners hold down index

(Alliance News) - Stock prices in London closed lower on Monday, with miners and oil firms holding down the FTSE 100 index.

Cornerstone FS trading well ahead of market forecasts

(Sharecast News) - Foreign exchange and payment solutions company Cornerstone FS reported significant progress in its financial performance in an update on Monday.

Cornerstone FS shares up as expects earnings above market expectations

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

AIM WINNERS & LOSERS: Cornerstone FS to beat 2023 expectations

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.

LONDON MARKET OPEN: FTSE 100 edges lower as eyes turn to US jobs

(Alliance News) - European equities got off to a slow start on Monday, returning some of last week's gains, though gold's strong run continued as the precious metal notched a record high.

IN BRIEF: Cornerstone FS "strong" trading continues into second half

Cornerstone FS PLC - cloud-based payment provider - Says the strong trading momentum that was experienced in the first half of 2023 has continued into the second half, as reported last month, and to-date. Now expects to report 2023 revenue of at least GBP8 million, ahead of prior expectations and representing annual growth of at least 66% from GBP4.8 million in 2022. Says the strong growth reflects the advancements being made across the business, including growing the sales team and enhancing and expanding the group's offering by increasing the number of counterparties. This serves to broaden the range of currencies and countries where it can transact, the company says. Accordingly, says the number of active customers has increased annually and the group's average transaction value has risen.

Cornerstone FS lifts full-year outlook

(Sharecast News) - Foreign exchange and payments firm Cornerstone FS said on Tuesday that it had seen "continued strong trading momentum", with full-year revenue and adjusted underlying earnings now seen above previous expectations.

IN BRIEF: Cornerstone FS to sell subsidiary Capital Currencies

Cornerstone FS PLC - cloud-based payment provider - Says it will sell its non-trading subsidiary Capital Currencies Ltd for GBP150,000, as it enters a share purchase agreement. Does not disclose buyer. Chief Executive Officer James Hickman says: "This is a great outcome for Cornerstone, generating value from the sale of a licence, that is surplus to our requirements, to a non-competing business. As with the sale of our Avila House subsidiary at the start of the year, which was acquired for its small e-money licence, this transaction also demonstrates the importance of payments and e-money registrations and the value that purchasers place on them."