Alpha FX strikes upbeat note on FY21 performance
Alpha FX Group plc (LON:AFX), a provider of FX risk management and alternative banking solutions to corporates and institutions internationally, today provided a trading update for the year ending 31 December 2021.
Trading in the five months to date has been very positive across all aspects of the business, the company said. Its Institutional and Alpha Platform Solutions divisions in the UK, along with its overseas offices in Canada and Amsterdam have all delivered excellent year-on-year growth, Alpha FX explained, adding that its more established Corporate division has also demonstrated strong growth, as well as being the talent incubator for future leaders to launch Alpha into new markets.
As a result of the performance to date, the Board is optimistic that, providing the situation under COVID-19 does not deteriorate, the Group is on track to exceed current expectations for the full year.
Let’s recall that, for the year to December 31, 2020, Group revenue was up 31% to £46.2 million, whereas underlying profit before tax grew 20% to £17.5 million. Reported profit before tax was up 27% to £17.1 million.
Basic earnings per share rose 15% to 31.7p (2019 27.7p).