• Terms and Conditions
  • Privacy Policy
  • DMCA
  • Disclaimer
  • Cookie Privacy Policy
  • Contact Us
Sixsense News
Advertisement
  • Home
  • Business
  • Economy
  • Fintech
  • Finance
  • Insurance
  • Market
  • Startups
No Result
View All Result
  • Home
  • Business
  • Economy
  • Fintech
  • Finance
  • Insurance
  • Market
  • Startups
No Result
View All Result
Sixsense News
No Result
View All Result
Home Fintech

Cornerstone’s H1 2022 Revenues Climb by 127%

Bilal Jafar by Bilal Jafar
October 4, 2022
in Fintech
0


A cloud-based provider of global payments and currency risk management services, Cornerstone announced its financial results for the first half of 2022 (H1 2022) today. For the reported period, the company’s total revenue came in at £1.9 million, which is 127% higher compared to the same period in 2021.

Take Advantage of the Biggest Financial Event in London. This year we have expanded to new verticals in Online Trading, Fintech, Digital Assets, Blockchain, and Payments.

A sharp surge in direct sales played an important role in the company’s latest revenue jump. The figure climbed from £231k in H1 2021 to £1.4 million in H1 2022. Cornerstone’s gross margin also improved substantially to 61.7%. The gross margin in the first half of 2021 stood at 38.1%.

During the first week of September 2022, Cornerstone entered into an agreement to acquire Pangea FX. According to Gareth Edwards, the Chairman of Cornerstone, the addition of Pangea FX has strengthened its business.

“The first half of 2022 represents a period of significant growth – both in terms of revenue as well as the expansion of the operations with the acquisition of Capital Currencies. Our business has been strengthened further post-period with the addition of the Pangea FX team, who will help drive our sales function both in the UK and Dubai. With the arrival of James Hickman, our new CEO, on 12 September 2022, we can expect an added impetus to the growth in direct sales and, in due course, the addition of further revenue streams,” Edwards said.

Keep Reading

Growth

In the recent press release, Edwards mentioned that the company is expecting strong revenue growth in the second half of 2022 as well.

“The strong trading momentum that was experienced in the first half of the year has been sustained through the second half, reflecting underlying growth as well as the initial contribution from Pangea FX. Accordingly, we continue to expect to achieve significant revenue growth for full-year 2022, and I look forward to reporting on our progress,” Cornerstone’s Chairman added.

A cloud-based provider of global payments and currency risk management services, Cornerstone announced its financial results for the first half of 2022 (H1 2022) today. For the reported period, the company’s total revenue came in at £1.9 million, which is 127% higher compared to the same period in 2021.

A sharp surge in direct sales played an important role in the company’s latest revenue jump. The figure climbed from £231k in H1 2021 to £1.4 million in H1 2022. Cornerstone’s gross margin also improved substantially to 61.7%. The gross margin in the first half of 2021 stood at 38.1%.

Take Advantage of the Biggest Financial Event in London. This year we have expanded to new verticals in Online Trading, Fintech, Digital Assets, Blockchain, and Payments.

During the first week of September 2022, Cornerstone entered into an agreement to acquire Pangea FX. According to Gareth Edwards, the Chairman of Cornerstone, the addition of Pangea FX has strengthened its business.

“The first half of 2022 represents a period of significant growth – both in terms of revenue as well as the expansion of the operations with the acquisition of Capital Currencies. Our business has been strengthened further post-period with the addition of the Pangea FX team, who will help drive our sales function both in the UK and Dubai. With the arrival of James Hickman, our new CEO, on 12 September 2022, we can expect an added impetus to the growth in direct sales and, in due course, the addition of further revenue streams,” Edwards said.

Keep Reading

Growth

In the recent press release, Edwards mentioned that the company is expecting strong revenue growth in the second half of 2022 as well.

“The strong trading momentum that was experienced in the first half of the year has been sustained through the second half, reflecting underlying growth as well as the initial contribution from Pangea FX. Accordingly, we continue to expect to achieve significant revenue growth for full-year 2022, and I look forward to reporting on our progress,” Cornerstone’s Chairman added.



Source link

Related articles

The Payments Association Sets Out Government Recommendations For New Financially at Risk Groups

September 22, 2023

Skill Swift’s Online Marketing Course Helps People Land A Job

September 22, 2023
Tags: ClimbCornerstonesRevenues

Related Posts

The Payments Association Sets Out Government Recommendations For New Financially at Risk Groups

by The Fintech Times
September 22, 2023
0

The cost-of-living crisis continues to expose new groups of people to financial pressures. With warnings of a ‘mortgage meltdown’ and...

Skill Swift’s Online Marketing Course Helps People Land A Job

by James Andrew
September 22, 2023
0

Share Tweet Share Share Email We advise you to continue with your aim of enrolling for Skill Swift’s...

Supеr Easy Way To Fix Scratchеs On Your Car

by James Andrew
September 22, 2023
0

Share Tweet Share Share Email Minor scratchеs on your car can rеvеal paint for metal underneath, which can...

Top 10 Must-Have Products for New Pet Owners in 2023

by James Andrew
September 22, 2023
0

Share Tweet Share Share Email Created by expert pet enthusiasts and veterinary professionals, this article offers essential insights...

Robocash Finds Latvia and Estonia Lead P2P Development, Displacing the UK From Top Spot

by Francis Bignell
September 22, 2023
0

Robocash, the Croatian-based investment platform, has identified the Baltic states to be a hot spot for peer-to-peer (P2P) lending. Forty-three...

Load More

Pitch Deck Teardown: Transcend’s $20M Series B deck

September 22, 2023

2:00PM Water Cooler 9/22/2023 | naked capitalism

September 22, 2023

Silent Eight Aims for Nasdaq Listing by End of 2025 By Investing.com

September 22, 2023

Zillow: Nearing An Inflection Point (NASDAQ:Z)

September 22, 2023

Dutch Authorities Say Tata Factory Emissions Lower Life Expectancy

September 22, 2023

*HOT* Rockland Fashion Softside Upright Luggage Sets only $25.99 (Reg. $80!)

September 22, 2023
Sixsense News

© 2022 Sixsense News All Rights Reserved.

Navigate Site

  • Terms and Conditions
  • Privacy Policy
  • DMCA
  • Disclaimer
  • Cookie Privacy Policy
  • Contact Us

Follow Us

No Result
View All Result
  • #3158 (no title)
  • Business
  • Economy
  • Finance
  • Fintech
  • Insurance
  • Market
  • Startups

© 2022 Sixsense News All Rights Reserved.