Alpha FX continues strong performance in Q4
FX risk management and payment solutions company Alpha FX Group plc (LON:AFX) released a Trading Update this morning, indicating continued strong performance so far in Q4 after a banner Q3, and expectations that full year earnings will be ahead of expectations.
The company also noted that it now plans to reinstitute payment of a dividend to shareholders.
The full text of Alpha FX’s trading update follows:
3 December 2020
Alpha FX Group plc
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.