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Alpha sees revenue and profit boost in first half despite headwinds

13th Sep 2023 10:24

(Alliance News) - Alpha Group International PLC on Wednesday said it saw its half-year revenue and profit soar despite macroeconomic headwinds, and expects to meet its full year expectations.

For the six months ended June 30, the London-based investor said pretax profit more than doubled to GBP52.4 million from GBP17.8 million a year prior, as revenue rose by 20% to GBP55.5 million from GBP46.1 million the year before.

"This performance has been underpinned by the strategic steps we have taken to diversify our business across geographies, product offerings and client types, as well as the strength of our highly differentiated service offerings," the firm said.

Alpha upped its interim dividend by 8.8% to 3.7 pence per share from 3.4 pence in the first six months of 2022.

Looking ahead, Alpha said it is confident in delivering its full year results in line with its expectations, despite macroeconomic headwinds.

Shares in Alpha were down 3.8% at 2,040.00 pence each in London on Wednesday morning.

By Sabrina Penty, Alliance News reporter

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