StockMarketWire.com - Fintech group TruFin posted a first-half loss as expenses offset rising sales.

Pre-tax losses for the six months through June amounted to £5.2 million, compared to year-on-year losses of £5.4 million.

Revenue rose to £4.9 million, up from £4.2 million.

'Notwithstanding the challenges posed by the pandemic, I am pleased with the group's progress,' chief executive James van den Bergh said.

'TruFin invests at the early stage of a company's life cycle, guiding the company towards sustainable growth, profitability and ultimately an exit.'

'As such, it is pleasing to report that during 2021 both Oxygen and Vertus will record their first cash generative months.'

'This underscores the group's strategy and supports the board's decision not to divest either of these subsidiaries earlier in the year.'

'Alongside Satago's trial with Lloyds Bank, which continues apace, management continue to work on further potentially significant strategic partnerships.'


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