London-listed binary options provider TechFinancials has warned that it will not meet market expectations with regard to revenue and profit for the full 2015 year following a disappointing performance from its customer-facing OptionFair business during the first half of the year.

The company said that revenue increased by 3 per cent to US$7.3m for the half year period, with a positive EBITDA, although this was negatively impacted by an increase in necessary research and development expenditure.

TechFinancials revealed that decisions made by the senior management of OptionFair at the end of Q1, as well as the impact of complying with the new regulations in Cyprus, resulted in a lower than expected rate of customer conversion at the B2C business...

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