London, July 15, 2022 – Fintel, a leading fintech and support-services company, announced today that while total revenue for the first half of the year decreased by 2%, core revenue experienced growth. With this positive momentum, the company remains confident in its ability to deliver further strategic progress for the full year.
During the first half of 2022, Fintel reported total revenue of £31.7 million ($40.9 million), compared to £32.2 million in the same period last year. This decline in total revenue was primarily due to reduced activity in the non-core business. However, core revenue increased by approximately 1.6% to £27.6 million.
Fintel also revealed that its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) grew by 4% to £9.0 million. This metric excludes exceptional and other one-off items.
Looking ahead, the company expressed strong confidence in its ability to achieve further strategic progress in line with its expectations for the full year. Although no specific financial figures were provided, Fintel emphasized its belief in its strong balance sheet with significant liquidity, recent acquisitions, and a robust merger and acquisition pipeline. These factors position the company well for accelerated growth.
Shares of Fintel were trading flat at 210.0 pence at 0835 GMT.
