Alpha FX Delivers Strong H1 Results, Profits Gain 16%

Alpha FX Group plc (Alpha FX), a provider of powerful FX risk management and payment solutions, has released its interim report for the six-month period ended 30 June 2022, showing a 16% increase in its pre-tax profits.

Specifically, the broker's revenue for the period came in at £46.1 million, which is up from £34.2 million generated in the time span a year before. The FX Risk Management revenues increased by over 30% against H1 2021 to £32.3 million, while the Alternative Banking revenues increased 40% against H1 2021 to £13.9 million.

During the period, Alpha FX generated £17.8 million in pre-tax profits, up 16% from £15.3 million generated in the time span a year before. The company posted 21% jump in basic earnings per share to 33.3 pence.

In addition, Alpha FX has strengthened its client numbers of FX Management division to 975 at 30 June 2022 after closing 2020 with 881 clients. For alternative investment sector, the number of live accounts invoiced grew to 3,061 by 30 June 2022.

"It is a privilege to report on another strong set of results, and I would like to thank our team for all their hard work in delivering this performance,"Morgan Tillbrook, Chief Executive Officer of Alpha FX commented."Our highly decentralised structure has helped us to evolve our business model and strategy in a way that is delivering significant competitive advantage and momentum whilst giving us the clarity and confidence to increase the rate at which we are investing for long-term growth. I am therefore confident we are in a strong position to sustain our company's growth and returns in the long term, whilst continuing to deliver strong performance in the short term."