17 March 2021 | 09:11am
StockMarketWire.com - FX risk management and alternative banking solutions Alpha FX reported a rise in annual profit as revenue was boosted by an uptick in clients.
For the year ended 31 December 2020, pre-tax profit was up 27% to £17.1 million as revenue rose 31% to £46.2 million.
The company reported a 16% increase in client numbers, from 648 to 754, and average revenue per client grew by 12%.
A final dividend of 8.0 pence per share was proposed.
Looking ahead, the company said it has made an excellent start to the year, and remains optimistic that, providing the situation under COVID-19 does not deteriorate, the group is on track to deliver another strong year of growth.
12 January 2021 | 09:17am
StockMarketWire.com - FX risk management and alternative banking solutions company Alpha FX said strong performance had continued, with underlying profit slightly ahead of most recent expectations.
Growth for the year came from both its FX risk management and alternative banking divisions, despite the former seeing a significant impact in the first half from businesses delaying their trading activity because of the slowdown in global trade as a result of COVID-19, the company said.
Client numbers increased by 16% during the year from 648 to 754.
The company said it naturally anticipated conditions to be more challenging than they were in second half of last year when restrictions were lower, but added that it was cautiously optimistic for the year ahead amid the ongoing vaccine roll out.