The cost reductions have been, and will continue to be, realized mainly through the automation and centralization of operational tasks, more cost-effective marketing and a reduced reliance on external resources and consultants for our IT development activities. Once fully implemented, the cost reduction program is expected to result in a positive cash flow effect of at least SEK 4m per month (Q415).
For more information please contact:
Linus Lönnroth, Acting CEO, TrustBuddy AB (publ)
http://investor.trustbuddy.com
About TrustBuddy AB (publ)
TrustBuddy is a leading diversified peer-to-peer group that operates in Northern Europe. The Group operates under three different brand names (Geldvoorelkaar, Crowdfunding Society and TrustBuddy). The group offers peer-to-peer financing for small and mid-sized companies and consumer loans.
The company is listed at Nasdaq First North in Stockholm. Erik Penser Bankaktiebolag is TrustBuddy AB (publ)'s Certified Adviser and market maker, phone number: +46-8-463 80 00.