Alpha FX Group Sees 31% YoY Revenue Jump in 2020

Fazzaco has learned that Alpha FX Group plc, a provider of Forex risk management and payment solutions, has unveiled its financial results for the fiscal year ending December 31, 2020, showing a significant jump in its revenue and profits.

The annual revenue of the group for 2020 jumped by 31 percent year-on-year to £46.2 million. This figure for the previous year was only £35.4 million. More than £40 million of the revenue came from Forex risk management. The company's pre-tax profits for 2020 rose by 27 percent to £17.1 million compared to the previous year.

​Alpha FX detailed that the number of its clients rose by 16 percent to 754 from last year's 648. The average per client revenue also increased by 12 percent.

Morgan Tillbrook, Chief Executive Officer of Alpha FX, commented: "For many companies across the world, 2020 has represented their greatest challenge to date, and Alpha was no different. However, what I witnessed last year was a team that grew more ambitious, more determined and more connected with every challenge that was thrown at them. The result that the market will see today was another year of consecutive growth across all divisions, and I am naturally delighted with this. However, I believe the long-term benefits for our team and culture, having overcome this experience together, will prove far more valuable still."