Cornerstone FS “very confident about the full year” after recording maiden pre-tax profit
Cornerstone FS PLC (AIM:CSFS) CEO James Hickman speaks to Thomas Warner from Proactive after the foreign exchange and payments company released its interim results for the six months to 30 June 2023.
Hickman highlights a maiden pre-tax profit for the first half, which he attributes to a keen focus on revenue growth alongside cost control and even cost reduction. He says operational efficiencies were achieved through process improvements, particularly in onboarding.
He goes on to explain how Cornerstone's approach has allowed the company to establish a less competitive space for itself compared to traditional payment services. Looking ahead, Hickman expresses optimism about the company's second half's performance, saying he's "very confident about the full year."
Hickman gives some more information about how the company has been evolving, saying that it now emphasises direct sales over white labelling and that ongoing investments in compliance and regulation are central to the firm's strategy for sustained growth.
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Cornerstone FS PLC
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