Abide Sees Loss for First Three Quarters of 2018 Fiscal Year

Abide Financial Ltd, NEX Group’s Bristol-based trade reporting ‎specialist, has published its financial results for the nine months 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 acquisition of the NEX Group. However, during the reported period, this Acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term had not yet taken effect, and Abide’s ultimate parent company was still NEX Group Limited.

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 months ended June 30, 2017, which has a turnover of £5.2 million, this is up by 37.5 percent.

However, during the nine months ended March 31, 2018, the UK-based company reported an operating loss of £4.5 million. This is a much steeper operating loss of 63.2 percent 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 percent 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 percent.