There was no hiding the disappointment investors felt with first-half results from Earthport (EPO), with the cross-border electronics payments company losing a tenth of its value.
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The main area of discontent centred on heavier than expected investment in the business, which pushed up losses and pushed out expectations for when the company will break even. Still, an 85 per cent increase in transactions and a 35 per cent increase in turnover to £14.3m during the six months provides some encouragement.
And while the group did disappoint, losses before interest, tax, amortisation and depreciation were still down 70 per cent to £1.7m. Comfort can also be taken from net cash of £11.4m, £3.1m lower over the half.
