Mode Global Holdings 1st Half Revenue Hurt by Market Volatility

By Cristina Roca

Mode Global Holdings PLC said Friday that its first-half revenue was hit amid market volatility, but reported a slightly narrowed pretax loss.

The fintech company posted a pretax loss of 3.6 million pounds ($4 million) for the six months to June 30 compared with a loss of GBP3.9 million a year earlier.

Revenue for the period was GBP535,000, down from GBP814,000.

The company said choppy markets shook cryptocurrency investors and led to a downturn in trading, which hit its results. It recorded a sharp drop in trading revenue, which was partly offset by growth in its global services division.

The company said it still believes in the strength of its momentum, but that it will continue to budget carefully and optimize costs.

Write to Cristina Roca at cristina.roca@wsj.com

(END) Dow Jones Newswires

September 30, 2022 03:36 ET (07:36 GMT)

R8 Capital Investments (LSE:MODE)
Historical Stock Chart
From Jun 2024 to Jul 2024