TechFinancials, a technology provider to financial trading brokers, has reported strong trading for the first six months of 2016 ahead of the Group's Interim Results which are due in the first half of September 2016.
Revenue has increased by over 30 per cent from USD7.34 million in the first half of 2015 to in excess of USD9.6 million during the first half of 2016. Additionally, operating performance improved substantially compared with the same period in 2015, resulting in EBITDA increasing by over 80 per cent from USD0.55 million to in excess of USD1 million.
Asaf Lahav, Group CEO of TechFinancials, says: "We are very pleased with the results for the first half of 2016. During the period our B2B division continued to perform strongly and we are now finally seeing the fruits of our B2C initiatives. Both revenues and EBITDA are substantially up compared with the same period last year leaving the Board increasingly confident about meeting market expectations for the full year."
