Buy11 Dec 2015 15:30
Post from ADVFN.
Drop here is unjustified IMO. This was from the trading update 24th update September.
"Revenues in the first four months of the financial year were more than 20% higher than in the same period in the prior year. Two new buyers contracted to join the Tungsten Network in the period and six existing buyers agreed contract renewals, at an average expected fee increase of 22% on a like for like basis. We are focused on working with buyer customers with whom we can expand the relationship to multiple products. Nearly 7,000 net additional e-invoicing suppliers were activated in the four month period.
4.9 million e-Invoices were sent over Tungsten Network in the first four months (14.2 million over the 12 months to August 2015), totalling GBP35.7 billion (GBP107.0 billion over the 12 months to August 2015). These are respectively 9% and 12% higher than the same period in the prior year. E-Invoices, which will replace total invoices as our key performance indicator, represented 95% by volume and 92% by value of total invoices processed in the four months.
We now have 238 suppliers registered to use Tungsten Early Payment with 89 live who have financed GBP62 million of invoices."
Seems to be gaining momentum. Good luck all