5th Dec 2022 14:21
(Alliance News) - Equals Group PLC on Monday said it expects full year trading in 2022 to be ahead of expectations as revenue jumped in the first 11 months of the year.
London-based Equals Group is a payments firm for small and medium enterprises.
Equals has not specified its annual forecast, although revenue in the Travel Money department for travel cash and personal pre-paid debit cards is expected to bounce-back towards GBP8.0 million which was recorded in 2019, from GBP2.8 million in 2021.
Revenue for the 11 months to November 30 this year increased 61% to GBP63.5 million from GBP39.5 million, with revenue in the Solutions arm multiplying to GBP13.9 million from GBP3.5 million, and other revenue growing 38% to GBP49.6 million from GBP36.0 million.
Equals said it continues to invest in its connectivity, technology and product development whilst strengthening resources in sales, marketing, and compliance to "underpin the continued growth of the business".
Equals shares were down 0.2% to 93.30 pence on Monday afternoon in London.
By Jaskeet Briah, Alliance News reporter
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