Supply@Me Capital PLC - London-headquartered fintech platform - Reports GBP2.1 million loss for the six months ended June 30 compared to a loss of only GBP113,000 the year before. This results from a multiplying of administrative expenses to GBP1.1 million from GBP124,000 the year before, plus exceptional costs of GBP1.4 million relating to its reverse acquisition of Supply@Me Srl in March 2020, with no exceptional costs the prior year. Revenue rises to GBP368,000 from just GBP11,000.
Chief Executive Alessandro Zamboni says: "As well as completing the first open-funding securitisation transactions, in 2021 the company expects to launch and grow its Captive Bank and Shariah funding routes. The multi-channel Inventory funding opportunity widens the platform's potential investor base and therefore improves its fund-raising potential."
Current stock price: 0.51 pence
Year-to-date change: down 11%
By Anna Farley; annafarley@alliancenews.com
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Supply@me Cap (SYME)