Cornerstone FS plc (AIM: CSFS), the cloud-based provider of international payment, currency risk management and electronic account services to SMEs, provides an update on current trading and the outlook for the year to 31 December 2021.
As noted in Cornerstone’s interim results announcement on 27 September 2021, the Group had seen improved gross margins in H1 and had been experiencing increased trading momentum during the first nine months of 2021, which we are pleased to report has been sustained into the fourth quarter of the year. This growth in revenue is being driven by the expansion of the Group’s direct client base, which now makes up the majority of Group revenue, together with the contribution of its new Asia team since they came on board in August. As a result, the Directors now expect revenue for the year ended 31 December 2021, to be significantly ahead of last year.
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