Getting press coverage16 May 2023 08:16
Cornerstone FS (CSFS), a foreign exchange and payments company, announced its final results for the year ended 31 December 2022. Revenue increased 110% to £4.8m (2021: £2.3m). Gross margin improved to 60.9% (2021: 51.6%). Adjusted EBITDA loss reduced to £0.9m (2021: £1.3m loss). The company says the strong trading momentum experienced in 2022 has been sustained into the current year, and we remain on track for a significant increase in revenue for full year 2023 and are optimistic in terms of adjusted EBITDA positivity.
Comment: It should be the case that, to paraphrase Amy Winehouse, Cornerstone’s journey Back To Black will see a resumption of the recovery in the stock which started briefly at the beginning of this year.
May be see 12p very soon