19th Mar 2025 09:41
(Alliance News) - Alpha Group International PLC on Wednesday said it was confident in the outlook for the current year, as it announced annual profit, dividend and revenue growth.
The London-based provider of financial services, including foreign exchange risk management, said pretax profit grew 6.2% to GBP123.1 million in 2024 from GBP115.9 million in 2023.
Total income rose 19% to GBP220.9 million from GBP186.0 million, while revenue climbed 23% to GBP135.6 million from GBP110.4 million. Total income includes net treasury income.
The company declared a final dividend of 14.0 pence per share, up 14% from 12.3p. This brings the total payout for 2024 to 18.2p, up 14% from 16.0p.
Alpha said it so far has completed about half of its second share buyback programme of up to GBP20 million in total, which it expects to conclude in the first half of 2025.
Looking ahead, Alpha said: "The group's positive trading momentum in H2 2024 has continued into 2025, which combined with the increasing benefits of our investments to date, means we remain confident in the outlook for 2025 and beyond."
The company said it remained "very excited" about the progress of its corporate overseas offices, noting the potential to recreate successes of Alpha's UK team.
It added: "We will continue to analyse and manage risk, balanced with commercial opportunity. In 2023 Alpha [and our clients] had to quickly adapt to a new higher interest rate environment. Mindful of this, we chose to reduce our credit appetite in these years, which prevented us from working with some existing clients, whilst reducing the pool of new clients we were willing to work with. However, more than a year on, our teams have significantly more insight into clients' business models and end markets within this environment, allowing them to make more informed client credit decisions, increasing our appetite in some areas, without compromising on our standards."
Alpha shares were up 0.8% at 2,490.00 pence each on Wednesday morning in London.
By Tom Budszus, Alliance News slot editor
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