Alpha FX Releases FY22 Trading Update, Anticipates Profits Ahead of Expectations

Alpha FX, a leading provider of FX risk management and alternative banking solutions to corporates and institutions internationally, has announced a trading update for the financial year ended 31 December 2022.

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The group's revenue continues to grow strongly in line with recent upgraded expectations, with consistent month-on-month growth against the prior year. Alpha FX expects that its profit will be  materially ahead of expectations as a result of the interest rate environment generating additional income from Alternative Banking's overnight cash balances.

The Group continues with its accelerated investment programme in its Alternative Banking division, as outlined in its H1 results statement, alongside its investments in the global expansion of the FX Risk Management division.

Morgan Tillbrook, Founder and CEO of Alpha FX commented:"I am pleased that we have continued to deliver on our upgraded revenue expectations, highlighting our robust business model during a period of macro volatility, with both our divisions continuing to perform strongly into H2."

"Our tried and tested strategy in FX Risk Management continues to be successful within the current macroeconomic conditions, and we remain committed to ensuring our clients are advised appropriately whilst continuing to manage our own risk profile. At the same time, we have continued to grow the number of  our Alternative Banking customers in response to the significant market demand,"Tillbrook added."I remain highly excited about the opportunities in front of us and look forward to delivering on a strong end to the year."

The update comes days after the company launched a new website, which offers more information around the services it provides and demonstrating what differentiates it within the markets.