REG - TruFin PLC TruFin PLC - Trading Statement

TrufinAnnouncement

05/12/2024 07:00

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RNS Number : 8775O  TruFin PLC  05 December 2024

5 December 2024

 

TruFin plc

("TruFin" or the "Company" or together with its subsidiaries the "Group")

Trading Update

 

TruFin is pleased to announce that following its trading update on 18 November
2024 and due to a recent period of positive exposure for Balatro, the hit
console and mobile game published by Playstack Ltd ("Playstack"), TruFin now
expects it financial performance for the year ending 31 December 2024 to be
significantly ahead of previously guided market expectations. Group revenue is
now expected to be more than £46m (FY23: £18.1m), representing year-on-year
growth in excess of 150%. TruFin also expects EBITDA to be no less than £4.5m
(FY23: £(3.5)m) and Adjusted Loss Before Tax to be no more than £(1.5)m
(FY23: £(6.6)m).

Balatro has been nominated for 5 awards at this year's Game Awards - including
'Game of the Year'. This is only the 5(th) time in history that an Indie game
has been nominated for 'Game of the Year'. Balatro has already won 2 Golden
Joystick Awards, winner of 'Best Indie Game' and the 'Breakthrough Award' and
was nominated in 3 other categories. The exposure created by The Golden
Joystick Awards and The Game Awards nominations, combined with the high
retention rate of Balatro, has resulted in an unprecedented number of new
players being introduced to this hit game.

As a result of the exceptional performance, TruFin's cash position is expected
to be stronger than originally expected and the Group remains fully funded to
profitability.

 

The information contained within this Announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No.596/2014 as amended by The Market Abuse (Amendment) (EU Exit)
Regulations 2019. By the publication of this Announcement via a Regulatory
Information Service, this inside information is now considered to be in the
public domain. The person responsible for arranging for the release of this
Announcement on behalf of the Company is Annie Styler.

For further information, please contact:

 TruFin plc                                                        0203 743 1340

James van den Bergh, Chief Executive Officer
07779 229508

Kam Bansil, Investor Relations
 Panmure Liberum Limited (Nominated Adviser and Corporate broker)  0203 100 2000

Chris Clarke

Edward Thomas

 

TruFin plc is the holding company of an operating group comprising three
growth-focused technology businesses operating in niche markets: early payment
provision, invoice finance and mobile games publishing. The Company was
admitted to AIM in February 2018 and trades under the ticker symbol: TRU. More
information is available on the Company website: www.TruFin.com.

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