10th Sep 2024 20:02
Equals Group PLC - London-based payment platform developer - In the six months to June 30 pretax profit rises 12% to GBP6.5 million from GBP5.8 million a year prior. Revenue climbs 33% to GBP60.0 million from GBP45.0 million. Basic earnings per share rises 5% to 2.76 pence from 2.64p. Dividend doubles to 1.0p per share from 0.5p. Says in year-to-date, up to September 6, revenue up 38% to GBP86.9 million from GBP63.0 million. Third quarter revenue averaging GBP549,000 per day against GBP383,000 in the same period in 2023.
"This has been another strong half for Equals, which continues to process transactions at record levels with [small and medium sized] clients and larger corporates recognising the value of our well-invested proposition. Indeed, our H1 total transaction values are 120% greater than that of two years ago, and 44% greater year-on-year, reflecting our sustained investment into product development and expansion of our addressable market. The operational leverage that this scale is providing is evident in our increased gross margin and the growth of the group's profitability," company says.
Current stock price: 112.00 pence
12-month change: up 12%
By Jeremy Cutler, Alliance News reporter
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