TruFin FY adjusted pre-tax losses seen 'in line with expectations'

Financial services group TruFin said on Thursday that adjusted pre-tax losses were seen "in line with expectations" as it reiterated guidance for the coming year.

TruFin said adjusted underlying losses were expected to be ahead of expectations at £3.0m, a 47% year-on-year improvement, while revenues were seen nearly a third higher at no less than £20.2m.

Group income, on the other hand, fell short of expectations, principally due to platform deals at delayed negotiations over at console game development unit Playstack.

For 2024 as a whole, TruFin estimates an overall loss of no more than £6.3m, down from a loss of £8.2m in 2022.

Chief executive James van den Bergh said: "Whilst a delay in finalising Playstack's platform deals and the associated financial impact is frustrating to report, the board is confident that the group is well placed to deliver significant value for shareholders.

"TruFin made significant progress in 2023. Having disposed of Vertus, we have invested in Oxygen, Satago and Playstack in order to maximise the value of these entities ahead of possible value realisations."

As of 1055 GMT, TruFin shares had slumped 6.0% to 47.0p.

Reporting by Iain Gilbert at Sharecast.com