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Financial and Operating Summary:
· Gross income1 increased 25% year-on-year to £137.1 million (2022: £109.4 million).
o Income growth in all four client segments.
o Wholesale FX and Payment FX income 1, when excluding Nigerian Naira, increased 28% year-on-year
· Adjusted EBITDA 1 £64.6 million, up 17% (2022: £55.0 million).
o Adjusted EBITDA margin1 47% (2022: 50%).
· EBITDA1 down 12% at £43.5 million (2022: £49.7 million), largely driven by IPO related costs.
· Total active clients increased 12% to 509 (2022: 456).
· Banking partners increased 16% to 331 (2022: 287), including 17% growth in payment partners.
· EU licence in final stages. US licence timeline H2 2024, providing significant market opportunities.
Going Forward,, Looking Good,,We’re also interested in the role digital currencies may play, especially central bank digital currencies. Some clients are showing an interest in stablecoins for moving funds from A to B, and we find this interesting in terms of cross-border micropayments.
18 January 2024
Ferrexpo plc
(“Ferrexpo” or the “Company” or the “Group”)
Interim Dividend Announcement
Ferrexpo plc (LSE: FXPO), producer of premium iron ore pellets for the transition to lower carbon and green steel is
pleased to announce an interim dividend of 3.3 US cents. The Group performed well in the second half of 2023, production
optimisation together with an improved pricing environment has allowed the Board to consider an interim dividend. The
Group has also approved a salary increase and bonus payment for its workforce in Ukraine as well as continued
expenditure under its humanitarian fund.
Commenting on the announcement, Lucio Genovese, Executive Chair said:
“We exceeded our expectations in 2023 thanks to improved demand, production optimisation and higher iron ore prices.
After paying taxes, maintenance and expansion capital, our year end financial position is stronger than at the start of the
year. The new year has also started well for the iron ore industry with signs of an increase in pellet demand, providing the
confidence to restart a second pellet line to meet export demand.
The Group remains committed to supporting all stakeholders in Ukraine, the Poltava region and the local communities
where it operates. We are pleased to announce that we are providing a bonus payment and wage increase for our
Ukrainian workforce and will continue to spend under the Company’s humanitarian fund for 2024.”
The interim dividend announced today will be paid on 23 February 2024 to shareholders on the register at the close of
business on 26 January 2024. It will be paid in UK Pounds Sterling, with an election to receive in US Dollars. it will get resumed again,,
Well dividends would be back very soon once this mess is cleared up,, and the share price will be triple digits very fast,, at this price it's a steal,, been topping up at every opportunity and I shall continue for the long term
With best of the best people in the company,, Do anyone think once European license is in place and USA license in place this could be trading at £15- £20 a share?,, it's only matter of time say next few years,, looking back at be laughing 🤣,all the way,, I've been Topping Up every given opportunity and i will continue
With Strong Cash Generated,, excess capital being built Up,, can't wait Juicy Dividends for a passive long term income,, and most likely interest rates will start to fall,, a great opportunity to buy in,, Strong Buy and Hold
Full-year income on track at Cab Payments
By Sharecast News
Sharecast News | 16 Jan, 2024
Cab Payments Holdings said it had seen a 25% jump in full-year income on Tuesday, marginally ahead of expectations.
Updating on end-of-year trading, the payment processing specialist said total income for the year to 31 December was set to be 25% higher than the previous year. Total income in 2022 was £109.4m.
Most analysts were expecting total income of around £132m in 2023.
Cab, which debuted on the London market last summer, said it had benefited from customers switching from incumbent providers to specialists such as itself. The fintech helps businesses make payments in traditionally hard-to-reach markets.
It continued: "The company has a high quality and growing customer base, made up of G10 government entities, some of the world’s best known international development organisations, global remittance companies, emerging markets financial institutions and, increasingly, major market banks.
"Cab has laid out a clear strategy to grow its customer base, expand its presence to new markets and broaden its product offering."
Cab joined the London market in July at just over 300p. The shares then plunged in autumn, however, after it warned on profits.
At the time, Cab said it had been hit by the steep drop in the Nigerian naira as well as central bank intervention in the central African franc.
Canaccord Genuity said on Tuesday: "We are comforted to see Cab deliver a small beat to our own and consensus forecasts for the 2023 full-year.
"We believe continued rebuilding of trust with the market post the October profit warning, demonstrated through managing and exceeding expectations, is required to drive any meaningful re-rating."
Canaccord has a ‘speculative buy’ rating and a target price of 246p.