TechFinancials Inc or LON: TECH, which is a supplier and operator of Binary options platform has released a report which shows that its outcomes for the initial half of 2016 needs to match anticipations.
presented an official report that will be submitted in the morning tomorrow, at the firm’s yearly general meeting. Emphasis will be on:
- The firm’s platform for ‘B2B’ experienced revenue increase of 30% YoY
- Latest software licensing clients numbering 5 were signed up by TechFinancials in 1H-2016
- The firm’s money status increased to USD $3.85 million by June 30, which was an increase from $ 3.39 million by close of the year.
- TechFinancials went on paying attention to the development of Asia and has grown in APAC using a new Hong Kong office as well as partnership with Optionfortune Trade.
Afterwards, this summer, TechFinancials will indicate its complete initial half financials.
The complete TechFinancials statement shows the following:
(TechFinancials Inc. or the ‘Company’)
TechFinancials (AIM:TECH) which is a top technology supplier to financial trading brokers, states that at the Annual General Meeting to be held tomorrow, Christopher Bell, TechFinancials’ Chairman, is going to issue the report below;
Christopher Bell (TechFinancials)
It is with pleasure that I give the latest news to our shareholders on TechFinancials’ advancement, as we go on creating a firm for top proprietary software solutions for online brokers, offering services for binary options retail traders as well as other trading tools.
The previous year was difficult and was a year of change for the Firm. We experienced a steady performance with our licensing division for B2B division and revenues grew by 30% year after year. Also, numerous initiatives were carried out to improve our status in regard to our B2C provision and to assist in setting up foundations for new development in FY2016.
In consideration of these advancements, I am happy to say that the performance of our B2B as well as B2C divisions has been great, from the beginning of this financial year and that trading matches anticipations from the market.
The work we carry out at B2B is becoming more fast-paced and we have enrolled five contracts for software licensing in the past six months and we notice a rise in requests for our trading solutions.
Additionally, we are especially inspired because our B2C division is on course again and that our association with Optionfortune Trade has began positively. Apart from this, we persist in creating a steady cash status that currently sums up to US$3.85 million by 30th June 2016. This is a rise of US$0.46 million from the status on 31 December 2015, which puts us in a strong stance for development.
As a section of our huger advancement plan, we persist in boosting our activities in Asia via development of our latest Hong Kong office and are still paying attention, making investments, starting new trading platforms, improving our tablet and mobile solutions as well as other products to cater for the varying demands of our clients all over the world.
Our staff is passionate in their work, inspired and skilled; they offer unique service and solutions to our clients. I wish to extend my gratitude to them on the Board’s behalf, for each of their endeavors as we proceed to another year which is successful and full of activity.
Also, we appreciate our shareholders for their constant support. Lastly, we anticipate going on giving the market updates on our advancement in FY 2016, all through the remaining year.