Equals registers steep growth in YTD revenues
Fintech payments group Equals (LON:EQLS) today published a trading update for the 11 months ended 30 November 2022.
Revenues for the Period were £63.5 million, an increase of 61% over revenues of £39.5 million achieved in the same period in 2021. Revenue per day increased to £0.27 million per day from 230 working days compared to £0.17 million per day in 2021.
Revenue growth remains robust despite unfavorable global macro-economic conditions.
Let’s note that for the period from 1 July 2022 to 5 September 2022 Equals booked revenues of £13.3 million, an increase of 55% over the same period in 2021. Revenues per day amounted to £289k, compared to £187k in the same period in 2021.
Alongside the strong revenue performance, Equals continues to invest into its connectivity, technology and product development whilst concurrently strengthening resources in sales, marketing, and compliance to underpin the continued growth of the business.
Based on the above, the Board expects the Group´s full year results to be ahead of current market expectations.
Ian Strafford-Taylor, Chief Executive Officer, said:
“We are extremely pleased to see a 61% increase in our revenues in the 11 months ended 30 November with all segments performing strongly. Our revenue growth has continued in the face of difficult macro environments and this augurs well for 2023 and beyond. We continue to invest in people, products and technology to drive our growth strategy and look forward to updating the market in early January with our full year trading statement.”