4th Sep 2019 10:37
(Alliance News) - Foreign exchange and payments specialist Alpha FX Group PLC on Wednesday said all parts of the business are performing well.
This has helped revenue for the six months to June to rise 60% to GBP15.6 million, with pretax profit surging 62% to GBP6.3 million. Client numbers were up 17% to 565.
Alpha FX has increased its interim return to shareholders by 16% on the year before to 2.2 pence a share.
"I am pleased to report all aspects of the business are performing well. Our recently launched operations into new markets and products is exciting, and has enabled us to diversify our revenue streams without compromising our focus on high-value clients and opportunities," said Chief Executive Morgan Tillbrook.
"Revenue growth continues to be driven by our core UK Corporate market, European clients serviced through our London office, the broadening of our product base into providing currency options, and the Institutional division," he continued.
"Alpha Pay and the new Canadian operation have had some early success and represent significant growth drivers for Alpha in the future."
Trading for the second half of the year started well, Alpha FX said, and it is "very comfortable" with current market expectations.
Shares in the company were 3.4% higher on Wednesday morning at a price of 760.00p each.
Related Shares:
AFX.L