FX and payment technology expert Finablr issues statement on recent share price swings

Maria Nikolova

The company says that there is no financial or operational reason for the share price movement.

Finablr PLC (LON:FIN), a provider of cross-border payments, FX and payment technology, today published a statement regarding the recent share price volatility. The company argues that there is no financial or operational reason for the share price movement.

Source: Google Finance.

Finablr says it remains on track to achieve the guidance that it set out at its IPO, which was reaffirmed in its trading update on 11 November 2019.

The trading update states that during the first nine months of 2019, Group Adjusted Income amounted to $1,17 million, up 9% in annual terms.

Group Adjusted EBITDA for the period was $182.3 million, up 22.1% from a year earlier. Underlying Group EBITDA margin was 15.6%, up 167 bps from the same period a year ago.

Total processed volumes (TPV) for the first nine months of 2019 totalled $97.2 billion, up 13.5% from a year earlier.

In terms of outlook, Promoth Manghat, Group CEO, said back then:

“We reaffirm the guidance and outlook provided at the time of IPO and remain highly confident in the future prospects of the business”.

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