Finablr backs guidance as income grows

Finablr on Monday reaffirmed its guidance as it posted income growth for the first nine months of the year and highlighted recent partnership wins.

The cross border payments and FX platform said adjusted income was $1.17bn in the nine-month period ended 30 September, 9% higher than in the same period last year.

Adjusted earnings before interest, tax, depreciation and amortisation rose by 22% to $182.31m, while total processed volumes increased by 14% to $97.2bn.

The period also saw underlying EBITDA margins improve from 13.9% to 15.6%.

Strong fourth-quarter progress from its B2B and payment technology solutions segment has seen commercial partnership wins with Samsung and Airtel Africa, as well as a memorandum of understanding to work on cross-border payments into China with China Union Pay, it said.

Chief executive Promoth Manghat said: "As evidenced by recent partnership announcements in our B2B and Payment Technology Solutions segment, our technology credentials are an increasingly visible differentiator, as is Finablr' s capacity to innovate and deliver Fintech at scale."

Manghat added that the company was on course to achieve the guidance provided when it joined the London Stock Exchange back in May, while he remained "highly confident" in its future prospects.

At 0910 GMT, the shares were up 1.3% at 174.19p.