Trading Update

RNS Number : 3442H

Alpha FX Group PLC

03 December 2020

 

3 December 2020

Alpha FX Group plc

("Alpha FX" or the "Group")

Trading Update

Alpha FX Group plc (AIM: AFX), a provider of FX risk management and alternative banking solutions to corporates and institutions internationally, today announces a trading update for the financial year ending 31 December 2020.

In our trading update on 1 October 2020, we reported that our strong performance in July and August had continued into September. Following on from this, the Group has continued to record a strong performance in October and November, with H2 2020 revenue across all business divisions growing versus the comparable period in H2 2019.  We have also started to see increased levels of cross-selling of additional services to both new and existing clients. 

As a result of this strong performance, the Board is pleased to announce that we expect full year earnings to be ahead of expectations. In light of this, and recognising the importance of dividends to stakeholders, the Board intends to reinstate a dividend policy at the year-end. 

Mindful of the ongoing uncertainty surrounding COVID-19, the Group will also provide a trading update as usual in January 2020.

Enquiries:

Alpha FX Group plc    via Alma PR

Morgan Tillbrook, Founder and CEO

Tim Kidd, CFO

Liberum Capital Limited (Nominated Adviser and Sole Broker)    Tel: [phone] 

Neil Patel

Richard Bootle

Kane Collings

Alma PR (Financial Public Relations)   Tel: [phone]

Josh Royston

Helena Bogle

Notes to Editors

Alpha provides FX risk management and alternative banking solutions to corporates and institutions across the UK, Europe and Canada.  Combining leading expertise and technology, the Group partners with a small number of high value clients, to provide enterprise-level solutions across four key areas: FX risk management, international payments, accounts and collections.

Since it was incorporated in 2010, Alpha FX has been able to build and retain a high-quality client base that includes a number of highly respected brands.

Market Abuse Regulation

This announcement is released by Alpha FX Group plc and contains inside information for the purposes of the Market Abuse Regulation (EU) 596/2014 ("MAR") and is disclosed in accordance with the Company's obligations under Article 17 of MAR. The person who arranged for the release of this announcement on behalf of Alpha FX Group plc was Tim Kidd, Chief Financial Officer.

 

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