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20 Aug 2019 | 08:08

Finablr losses widen, but performance meets upper end of guidance

Finablr reported results that met the upper end of guidance even as annual losses widened from a year earlier.

For the year to 31 July 2019, pre-tax losses widened to $ 23.39m from $2.51m even as revenues rose to $706.15m from $672.32m.

The results met the upper end of our guidance, with growth in each of our three segments and across our channels and products, the company said. 'B2B and Payment Technology Solutions, our fastest growing segment and now the single largest contributor to Group EBITDA, enjoyed growth from existing customers and continued pipeline momentum,' it added.

Looking ahead, the group reaffirmed guidance, targeting an adjusted earnings (EBITDA) margin of 20.0% in the medium term, and a capital expenditure to trend towards 3.0 to 4.0% of adjusted income, with a leverage ratio remaining under 2.5 times net debt to adjusted EBITDA.

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