Abide Financial Ltd, , has published its financial results for the nine month period ended March 31, 2018. Despite an increase in turnover for the period, overall, the company still reported a loss.
At present, Abide Financial’s ultimate parent company is now CME Group Inc., following its . However, during the reported period, this acquisition had not yet taken effect and Abide’s ultimate parent company was still .
For the current period, which is only nine months, Abide Financial has provided the full-year ended June 30, 2017, as a comparison. This is important to keep in mind when considering any increases or falls in values.
Abide Financial Sees Uptick in Turnover, But Overall Loss
During the nine-month period, turnover for the company was £7.2 million ($9.4 million). When measured against the 12 month period ended June 30, 2017, which has a turnover of £5.2 million, this is up by 37.5 per cent.
However, during the nine months ended March 31, 2018, the reported an operating loss of £4.5 million. This is a much steeper operating loss of 63.2 per cent than that seen in the financial year ended June 30, 2017.
This operating loss was largely thanks to a jump in administrative expenses. Specifically, for the nine months ended March 31, 2018, administrative expenses were £11.6 million. This is around £3.6 million or 44.9 per cent more than that accrued in the 2017 fiscal year, which was slightly under £8 million.
Total loss for the nine-month financial period was £3.7 million. Despite an uptick in turnover, this is still a worse result than that achieved in the 2017 fiscal year for the company, which had a total loss of £2.5 million. In comparison, this represents a fall of 45.9 per cent.
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