FAIRFX Group PLC AGM Statement (3912C)
June 17 2019 - 2:00AM
UK Regulatory
TIDMFFX
RNS Number : 3912C
FAIRFX Group PLC
17 June 2019
17 June 2019
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 12:30pm today, John
Pearson, Chairman, will make the following statement:
"2018 was another year of significant growth for FairFX with
further progress made towards our strategic goals. Turnover and
revenue growth continued to be strong, both organically and via
acquisition, whilst we also made further investment in our
technology to increase the functionality and capacity in our
platform for continued expansion.
"The Group has enjoyed a strong year to date in 2019, both in
terms of turnover and improved margins, which is a consequence of
further rationalisation of the supply chain. In addition, the
investments we made in 2018 are now flowing through in terms of new
products being released in 2019; with one such example being the
granting of the Bank of England settlement accounts and direct
access to the Faster Payments scheme.
"The Board expects the Group's trading performance for the full
year to be in line with market expectations."
-Ends-
For further information, please 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
Nick Searle
Canaccord Genuity
Bobbie Hilliam / David Tyrrell
Alex Aylen +44 (0)20 7523 8150
Yellow Jersey PR
Charles Goodwin
Joe Burgess +44 (0) 7747 788 221
Annabel Atkins +44 (0) 7769 325 254
About FairFX Group
FairFX is a leading challenger brand in banking and payments
that disintermediates the incumbent banks with a superior customer
experience (CX) and low-cost operating model. Our business enables
personal and business customers to make easy, low-cost payments
both domestically and in a broad range of currencies and across a
range of products all via one integrated system. The FairFX
platform facilitates payments either direct to Bank Accounts or at
35 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 money movement 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 platform and prepaid card. This service can yield
significant savings on a Corporate's expenses and procurement both
domestically and overseas, through better controls and improved
transparency. The platform also streamlines the downstream
administrative processes and integrates into accounting software,
thus saving costs. FairFX offers 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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