Alpha FX Group PLC Trading Statement (2276U)
July 11 2018 - 2:00AM
UK Regulatory
TIDMAFX
RNS Number : 2276U
Alpha FX Group PLC
11 July 2018
11 July 2018
Alpha FX Group plc
("Alpha" or the "Group")
Trading update
Alpha FX Group plc (AIM:AFX), a founder led, UK-based foreign
exchange service provider, today provides a trading update for the
six month period ended 30 June 2018.
The Board is pleased to report that revenue for the period is
expected to be approximately GBP9.6 million, representing an
increase of over 50% on the corresponding period last year. This
performance has been derived from strong growth in our core UK
corporate market supplemented by increasing traction in both Europe
(with employees based from our London office) and the institutional
division which launched in March. The period has seen increased
investment across our business, including a number of key hires
made in both the corporate and institutional divisions, to support
the continuing growth of the business.
Based on the performance in the period and the outlook for the
second half, the Board remains confident that earnings for the full
year will be in line with expectations.
Morgan Tillbrook, Founder and Chief Executive Officer of Alpha
said:
"We are delighted with the continued progress of the business.
Our core market continues to go from strength to strength whilst
the new business in Europe and the initial success of our
institutional division gives us confidence for the future."
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:
+44 (0) 20 3100 2000
Neil Patel
Richard Bootle
Kane Collings
Alma PR (Financial Public Relations) Tel: 07580 216 203
Josh Royston
Helena Bogle
Rebecca Sanders - Hewett
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.
Notes to Editors
Alpha is a founder led, UK-based foreign exchange service
provider focused on managing exchange rate risk for UK corporates
and institutions that trade internationally. The Company's primary
client base consists of medium sized corporates that have a
requirement to convert currency for a commercial purpose, such as
buying or selling goods and services overseas, repatriating
profits, or expatriating payroll. Since it was incorporated in
2010, Alpha has been able to build and retain a high-quality client
base that includes brands such as ASOS, Holland & Barrett and
Global Data.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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