TrustBuddy experience a significant increase during the second quarter Guiding TrustBuddy International AB 09:00
TrustBuddy International AB Company Announcement
TrustBuddy experience a significant increase during the second quarter Guiding TrustBuddy International AB
Stockholm, 2012-06-26 09:00 CEST (GLOBE NEWSWIRE) -- TrustBuddy continue to grow and has during the second quarter had a significant increase of both turnover and loans.
TrustBuddy has delivered over budget with 5, 10 and 11 percent during the first three months of 2012. During the second quarter the company continues to have a strong growth and delivers over budget with 11 percent for April and 19 percent for May.
Overall the company has more than doubled its turnover and the loan amount being lent out during the second quarter compared to the first quarter 2012. TrustBuddy has managed to keep its cost structure stable during the strong growth of the beginning of 2012.
Based on the past six months the trend shows that the growth can be expected to continue, which helps to support the company to reach the growth targets set up for the rest of the year and into the coming year.
TrustBuddy AB delivered a result of SEK 1.100.000,- during the first quarter. We expect to provide at least the same result during the second quarter and maintain our guidance to pass 200 million in loans at the end of 2012 delivering the expected result of a minimum of SEK10 million and a turnover of SEK 30 million.
The central part of the companys organizational development focuses on achieving a high degree of atomization to be able to handle large quantities without increasing the costs considerably. Therefore the turnover is assumed to continue to rise while the cost is expected to be able to be kept at a stable level.
TrustBuddy has taken a strong market position in Norway and Sweden and has a rising growth of both lenders and borrowers in all operative markets.
For additional information, please contact:
Jens Glasø, CEO, TrustBuddy International AB (publ)
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.