StockMarketWire.com - AIM-listed digital payments company Thinksmart's full year profits are up by more than 500% following gains on an investment.

Thinksmart's profit after tax was £53m in the 12 months to the end of June, up from £8.7m a year earlier, after an independent valuation of its 10% shareholding in Clearpay Finance.

Clearpay registered 1m new customers in its first 12 months of trading (the period ending 30 June).

Leasing volumes fell by 56% as the company continues to wind down this part of its business. It also reahced a £1.45m settlement with Dixons Carphone.


At 8:06am: [LON:TSL] Thinksmart Ltd share price was +10p at 47.5p



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