Visitors Now:
Total Visits:
Total Stories:
Profile image
By ProactiveInvestors (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Midpoint narrows loss and grows margins

Wednesday, November 30, 2016 8:41
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Foreign exchange payments specialist Midpoint Holdings Ltd  (CVE:MPT) narrowed the loss in the latest quarter, adding that margins had improved.

For the three months to September 30, the group said the  total number of transactions remained approximately the same after Brexit, while gross margin improved to 68%, against 24% in the same period last year.

Outlining  the strategy ahead, the group said it aimed to continue to build sales across multiple markets and jurisdictions and improving the platform for customers.

It is seeking to tap into five distinct market areas for growth – orgainic,  referrals; a company-branded white-label solution; a pure white-label solution; and licensing.

In addition, it continues to work on its application program interface (API) development – one of the strategies that will enable it to deliver a white labelled multi-party netting FX exchange solution to large corporations as well as to direct access referrals.

Midpoint has already completed an API integration with XERO cloud accounting services, which currently has over 600,000 installs worldwide and is growing rapidly.

The loss for the three months narrowed to C$178,146, compared to a loss of C$327,776        in the same period last year, on revenue which were up to C$75,191 (2015: C$57,068).

Story by ProactiveInvestors

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.