Alpha FX Group PLC Trading Statement (1508L)
July 17 2017 - 1:00AM
UK Regulatory
TIDMAFX
RNS Number : 1508L
Alpha FX Group PLC
17 July 2017
17 July 2017
Alpha FX Group plc
("Alpha", the "Company" or the "Group")
Trading update
Alpha FX (AIM:AFX), a founder led, UK-based corporate foreign
exchange service provider, provides a trading update for the six
month period ending 30 June 2017.
The Board is pleased to report that revenue for the period was
ahead of expectations at GBP6.3 million. Revenue generated remained
strong as the Company delivered on its advisory led service to its
clients. The overall performance was driven by both an increase in
new clients trading their foreign exchange through Alpha for the
first time and increasing volumes of trades with existing clients.
As a result, Alpha expects to deliver a full year out turn above
market expectations.
During the period Alpha recruited new staff, to support both its
continued market penetration strategy and its steps to enhance the
effectiveness of its currency risk management solutions through the
development of new technology and hedging products.
The period under review includes 12 weeks as a publicly listed
company following the successful IPO and admission to AIM on 7
April 2017.
Morgan Tillbrook, Founder and Chief Executive Officer of Alpha
said:
"I am pleased to report on the continuing momentum in the
business. The benefits of our IPO are already being seen through
our wider recognition and the ability to attract and incentivise
the right individuals for our business. As we continue to deploy
the proceeds raised from the IPO we will be able to facilitate
increasingly larger trades and accounts and we look forward to the
remainder of this year and beyond with confidence."
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
Dominik Götzenberger
Alma PR (Financial Public Relations) Tel: 07580 216 203
Josh Royston
Helena Bogle
Hilary Buchanan
Notes to Editors
Alpha is a founder led, UK-based corporate foreign exchange
service provider focused on managing exchange rate risk for UK
corporates 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 company news service from the London Stock Exchange
END
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