Alpha FX Group Reports YoY 90% Boom in Revenue for H1 2021

Alpha FX Group plc (Alpha FX), a provider of powerful FX risk management and payment solutions, announced today the release of its unaudited Interim Report ended 30 June 2021.

The Group outlines the financial highlights as follows:

• Its revenue for H1 2021 surged by YoY 90% to £34.2m, compared to that of H1 2020 at £18.0m. This was supported by a broad recovery in client activity post lockdown and strong growth across all divisions.

• The underlying H1 profit before tax enjoyed a sharp YoY increase of 214% to £15.4m (H1 2020: £4.9m).

• Uplift in H1 profit before tax margin reached 45% (H1 2020: 27%), which benefited from short-term lower travel, hiring and entertainment expenses.

• ​The net assets were in excess of £98m and £67m of own free cash on the balance sheet.

“Our momentum from the first half has continued into H2, and the Group's trading has continued to be strong, driven by a healthy demand for our services from existing and new clients. In order to maximise our long-term growth opportunities, we will continue to re-invest across all divisions in the business in H2 and beyond. We remain confident in the direction of travel of the business and the full year outcome, in line with our revised expectations reported in the Group's trading update announced on 14 July 2021,” Morgan Tillbrook, Chief Executive Officer of Alpha FX commented.