Alpha FX Group PLC Trading Update (6683A)
01 October 2020 - 4:00PM
UK Regulatory
TIDMAFX
RNS Number : 6683A
Alpha FX Group PLC
01 October 2020
1 October 2020
Alpha FX Group plc
("Alpha FX" or the "Group")
Trading Update
Alpha FX Group plc (AIM: AFX), a FX risk management and payments
specialist servicing corporates and institutions internationally,
today announces a trading update for the year ending 31 December
2020.
In our interim results announcement on 2 September, we reported
that we experienced a strong performance in July and August.
Following on from this, trading in September has also been
particularly strong and encouragingly this was across all areas of
the business. Growth has come from both our FX risk management and
alternative banking divisions, as they continued their penetration
across the UK, Europe and Canada.
As a result, despite the ongoing uncertainty surrounding
COVID-19, the Board is increasing its expectations for full year
earnings, and taking into account provision for bad debts is
confident that earnings will be at least in line with FY 2019.
Morgan Tillbrook, Founder & Chief Executive Officer of Alpha
said:
"Despite the fact that 2020 has created a number of challenges
for the business, I am extremely proud of how the team has
responded. Our performance to date is testament to the quality of
our people, clients and the investors who support us, and I would
like to thank everyone who continues to play a part in Alpha FX's
journey. Whilst much uncertainty remains in the wider world, I am
looking forward to the rest of the year and beyond with
optimism."
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: +44 0203 405 0205
Josh Royston
Helena Bogle
Notes to Editors
Alpha provides FX risk management and alternative banking
solutions to corporates and institutions across the UK, Europe and
Canada. Combining leading expertise and technology, the Group
partners with a small number of high value clients, to provide
enterprise-level solutions across four key areas: FX risk
management, international payments, accounts and collections.
Since it was incorporated in 2010, Alpha FX has been able to
build and retain a high-quality client base that includes a number
of highly respected brands.
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