3rd Jul 2024 14:03
(Alliance News) - Equals Group PLC on Wednesday said that revenue was substantially higher in the first half, ahead of its half-year results to be released in September.
The London-based payment platform developer said revenue jumped 33% in the first half of 2024 to GBP60.0 million from GBP45.0 million a year prior.
Equals highlighted that revenue in the Solutions product line surged 91% year-on-year to GBP13.5 million in the second quarter of 2024, from GBP7.1 million.
Revenue in the Payments product line, meanwhile, jumped 35% to GBP7.4 million from GBP5.5 million.
However, it noted that overall foreign exchange revenue from business-to-customers trading is subdued due to macro-economic conditions, while business-to-business or B2B revenue is more robust.
Equals shares fell 3.0% to 116.37 pence each on Wednesday afternoon in London.
By Tom Budszus, Alliance News slot editor
Comments and questions to [email protected]
Copyright 2024 Alliance News Ltd. All Rights Reserved.