ReutersReuters

UK's Fintel rises after strong H1, business revamp

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** Shares of fintech and intermediary services firm Fintel FNTL up 6.4% at 230p; among top gainers across all London stocks

** Half-year revenue jumps 18.6% y/y to 42.4 million pounds ($57.80 million) while adjusted core profit grows 17% to 11.2 million pounds

** Co simplifies operating structure to transition to two divisions from three.

** "We believe the move to 2 divisions better reflects Fintel's economics: software & data is the higher-margin, recurring engine, while services provides volume scale," Peel Hunt analysts say

** Including session's gains, stock down 14.8% YTD

($1 = 0.7336 pounds)

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