- E-banking and international payments group Equals reported wider losses in the first half of the year as the impact of Covid-19 weighed on its business to consumer division.

For six months ended 30 June 2020, the pre-tax loss was about £3.3m, compared with a loss of £179 on-year, while revenue rose to £13.8m from £13.6m on-year.

Overall transaction values were up 24%

In the third quarter to date, the international payments business generated £3.8m, or 68k per day, compared with £3.5m, or £58k per day, in the second quarter.

'Travel focused product lines continue to be impacted by Covid-19 travel restrictions and lack of consumer confidence,'it added.

Looking ahead, the company said it expected to be cash break-even in the fourth quarter and then move into positive territory in the first quarter 2021.

At 8:28am: [LON:EQLS] share price was +1p at 28p

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