FAIRFX Group PLC AGM Statement (2499Q)
June 05 2018 - 2:00AM
UK Regulatory
TIDMFFX
RNS Number : 2499Q
FAIRFX Group PLC
05 June 2018
5 June 2018
FairFX Group plc
("FairFX" or "the Group" or "the Company")
AGM Statement
FairFX, the e-banking and payments group, announces that at its
Annual General Meeting, which is to be held at 12.15pm today, John
Pearson, Chairman, will make the following statement:
"2017 was a transformational year for FairFX as full year
profitability was achieved for the first time since its admission
to AIM and the Group delivered an impressive rate of growth and
expansion.
"The Group made two transformational acquisitions during the
year, which have enabled FairFX to significantly broaden its growth
opportunities as it makes further advances into the digital banking
sector.
"The Group's performance in 2018 to date has been encouraging
with continued strong growth. In addition, the Group is already
reaping the benefits of the acquisition of City Forex in February
2018 including the migration of the FairFX international payments
business onto the City Forex proprietary platform, thus improving
efficiencies. The Board expects the Group's trading performance for
the full year to be in line with market expectations."
-Ends-
Contact:
FairFX Group plc
Ian Strafford-Taylor,
CEO +44 (0) 20 7778 9308
Cenkos Securities plc
Max Hartley/Callum Davidson +44 (0) 20 7397 8900
Yellow Jersey
Charles Goodwin +44 (0) 7747 788 221
Katie Bairsto +44 (0) 7946 424 651
Abena Affum +44 (0) 7555 159 808
About FairFX
FairFX is a leading challenger brand in banking and payments
that disintermediates the incumbent banks with a superior user
experience and low-cost operating model. This enables personal and
business customers to make easy, low-cost multi-currency payments
in a broad range of currencies and across a range of FX products
all via one integrated system. The FairFX platform facilitates
payments either direct to Bank Accounts or at 30 million merchants
and over 1 million ATM's in a broad range of countries globally via
Mobile apps, the Internet, SMS, wire transfer and MasterCard/VISA
debit cards.
FairFX provides banking and payment services to both personal
and business customers through four channels: Currency Cards,
Physical Currency, International Payments and Bank Accounts. The
Currency Card and Physical Currency offerings facilitate multiple
overseas payments at points of sale and ATM's whereas the
International Payments channel supports wire transfer foreign
exchange transactions direct to Bank Accounts. For Corporates,
FairFX has a market-leading business-expenses solution based around
its corporate prepaid platform and card that can yield significant
savings on a Corporate's procurement through better controls and
improved transparency and also streamline the procurement process
thus saving administrative costs. Through the recent acquisition of
CardOneBanking, FairFX now has the capability to offer retail and
business Bank Accounts with all the functionality you would expect
from a Bank, namely faster payments, BACs, direct debits,
international payments and a debit card.
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END
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