Shares of St James House PLC (LON: SJH) are rallying on Wednesday after the company’s return from suspension and financial results.
The technology-based firm which runs the Weather Lottery reported a £4.2 million loss for the year to January 2020. However, the six months to July 31, 2020, improved with the group making a loss of £567,000 compared to a £1.3 million loss during the same period the previous year.
St James House share price jumped to highs of 95p following the announcement. Theta re currently trading at 68.6p, up 71.25%.
The company said it saw growth in its payments division continued in February and March this year, while they saw further improvements in transaction activity in both Euro and GBP, increasing 168% and 82%, respectively, driven by continuing uptake of services rolled out to existing customers.
They are also in advanced discussions with an external investor to provide a working capital facility and expect to complete arrangements shortly.
“We are delighted that trading in our Ordinary Shares is being restored today. This has been a difficult year for the company, but we can now see positive signs on both the operational and financial fronts,” said Graeme Paton, Chief Executive of St James House.
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