TSX Venture Exchange: FGD
TORONTO, Nov. 30, 2016 /CNW/ - First Global Data Limited ("First Global" or the "Company") is pleased to advise that it has released its quarterly financials for the third quarter, 2016.
"We are proud to announce that our revenues continued to increase in the third quarter, and we were profitable again in Q3. In the past year our revenues have improved significantly over the prior year and we have experienced, now, three consecutive quarters of profitable growth, which is rare in the FINTEC sector. We have expended tens of millions of dollars on our technology to get to our current stage of evolution and we have arrived at a tipping point whereby we penetrate markets like India and the rest of the world to access millions of consumers through strategic partnerships" says Andre Itwaru, the Company's Chairman and CEO.
"We continue to focus on improving our balance sheet as we drive top line and bottom line revenues through our international expansion, by maximizing the value of our current 21 money service licenses in the USA, integrations with more than 250 banks in 97 countries around the world, and by deepening our relationships with large enterprises in a number of countries, looking to mobilize payments and international money transfers" said Mr. Nayeem Alli, the Company's CFO.
About First Global
First Global is an international financial services technology (FINTECH) company. The Company's two main lines of business are mobile payments and cross border payments. First Global's proprietary leading edge technology enables the convergence of compliant domestic and cross border payments, money transfers, shopping and peer to peer payments. First Global enables its strategic partners and clients around the world with our leading edge financial services technology platform.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements based on assumptions, uncertainties and management's best estimates of future events. Actual results may differ materially from those currently anticipated. Investors are cautioned that such forward-looking statements involve risks and uncertainties. Important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements are detailed from time to time in the Corporation's periodic reports filed with the Ontario Securities Commission and other regulatory authorities. The Corporation has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE First Global Data Limited
Image with caption: "First Global Data Limited (CNW Group/First Global Data Limited)". Image available at: http://photos.newswire.ca/images/download/20161130_C5716_PHOTO_EN_828244.jpg
For further information: Andre Itwaru, Chairman and Chief Executive Officer, Telephone: 416.504.3813, Facsimile: 416.504.7092, Email: [email protected]