TechFinancials to exceed market expectations, Richfield Capital intends to terminate agreement

Binary options platform provider and operator TechFinancials Inc (LON:TECH) announced a trading update ahead of its final results for the year ended 31 December 2016.

TechFinancials reported that further to its previous guidance to the market on its full year results for 2016, it now expects to exceed market expectations with revenues not less than USD $21 million and EBITDA not less than USD $2.8 million.

A full analysis of the Group’s performance will be included in the annual results for 2016, which are expected to be announced by 30 April 2017.

The Board also informed the market that the Company has received notification that its largest software licensee Richfield Capital, owner of (Richfield), intends to terminate its current agreement with the Group with effect from 1 April 2017. The Company is in discussions with Richfield in order to support the migration of trading activity to an in-house system during 2017, which may involve future services to be provided by the Group.

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