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Earthport interim revenues jump but loss widens on rising costs

Wed, 18th Mar 2015 09:13

A growing pipeline of customers saw interim revenues and gross profits at global payments company Earthport more than double.Revenues jumped 172% to £9.02m, increasing 102% on a like-for-like basis, while gross profit soared 175% to £7.04m.However, losses before tax rose 11% to £5.37m, with the group citing a sharp increase in administrative expenses as the main driving factor behind the widening loss.Administrative costs jumped 58.2% to £9.29, while the company also booked a £1.89m share based payment charge and an adjustment on unrealised fair value losses amounting to £1.25m.The London-listed company said it had signed 17 new customers in the second half of the year compared with 12 in the previous six months, while eight projects went live throughout the period, adding it now had 32 customers under contract and in implementation stage ahead of going live."Our pipeline of new customers continues to grow whilst significant embedded revenue potential remains a large opportunity with existing clients," said group chief executive Hank Uberoi."We are therefore confident of a successful full-year and beyond."Earthport shares were down 1.70% to 42.03p at 09:35 on Wednesday.
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22 Oct 2018 10:18

Earthport Appoints Sabharwal Interim Chair As Hickman, Uberoi Retire

LONDON (Alliance News) - International payment processing firm Earthport PLC said Monday it appointed Non-Executive Director Sunil Sabharwal as its interim chairman as its current chair retires -

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25 Jul 2018 12:28

Earthport losses widen in 'challenging' year

(Sharecast News) - Cross-border payment network Earthport issued an unaudited trading update for the fiscal year ended 30 June on Wednesday, reporting a 5.3% improvement in revenue to £31.9m.

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25 Jul 2018 11:53

Earthport Appoints New Chief Financial Officer As Annual Revenue Rises

LONDON (Alliance News) - Cross-border payments network provider Earthport PLC said on Wednesday in for its recently ended financial year its loss widened in spite of revenue growth.In the

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24 May 2018 15:33

Earthport Hires Microsoft, Misys And Logica Executive As New CEO

LONDON (Alliance News) - Cross-border payments provider Earthport PLC said on Thursday it has appointed Amanda Mesler as chief executive officer with effect on July 1.She will replace Hank

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22 May 2018 17:15

DIRECTOR DEALINGS: Earthport Executive Chairman Buys Shares

LONDON (Alliance News) - Earthport PLC said that Executive Chairman Hank Uberoi purchased 250,000 shares on Monday at a price of 9.1 pence per share.Following this transaction, Uberoi now a

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27 Mar 2018 13:22

Earthport Interim Loss Widens But Maintains Full-Year Expectations

LONDON (Alliance News) - Earthport PLC said on Tuesday its interim loss widened as it encountered "clear challenges" though it remains confident in meeting for the a

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20 Mar 2018 12:21

Earthport Expands Services Partnership With Japan Post Bank

LONDON (Alliance News) - Cross-border payment services provider Earthport PLC said on Monday it has enlarged its partnership with Japan Post Bank regarding the delivery of a a

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31 Jan 2017 08:16

Earthport revenue increases as cross-border transactions surge

(ShareCast News) - Cross-border payment provider Earthport expects to report an increase in revenue supported by a rise in the number of transactions and payment volumes for the first half of the year. During the six months ended 31 December 2016, the company strengthened its relationship with with

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12 Dec 2016 07:58

Earthport expands cross-border payments service with BofAML

(ShareCast News) - Bank of America Merrill Lynch's clients will now be able to access cross currency payments in over 60 countries and nearly 25 currencies after it expanded its service with AIM-listed Earthport. Cross-border payments company Earthport's service will add new countries and currencies

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21 Nov 2016 09:31

Payment Network Earthport Signs Agreement With India's Axis Bank

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21 Nov 2016 07:51

Earthport expands cross-border payments in India

(ShareCast News) - Axis Bank has become the first Indian bank to use Earthport's, cross-border payments service, following approval from the country's central bank. India's third largest private bank will allow its clients to make outbound cross-border payments through the AIM-listed company's netwo

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3 Nov 2016 12:20

Earthport wins cross-border payments approval from Reserve Bank of India

(ShareCast News) - AIM-listed Earthport has received approval from the Reserve Bank of India for operating cross-border payment services for banks as it expands in the country. Earthport could already make inbound payments into India for its overseas clients, and now with the central bank's approval

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26 Oct 2016 08:59

Earthport's revenue rises as European, North American transactions grow

(ShareCast News) - Cross-border payment network Earthport's revenue increased as investments during the year helped improve transaction flows in European and North American banks. Revenue climbed 18% for the year ended 30 June, to £22.8m, compared to last year, while transactional revenues comprised

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26 Oct 2016 08:17

Earthport Aims For Positive Cashflow After Year Of Slow Growth

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19 Oct 2016 15:07

UK Earnings, Trading Statements Calendar - Next 7 Days

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