Alpha FX Witnesses 68% Jump in 2021 Revenue

Alpha FX Group plc, a high-tech, high-touch provider of FX risk management, accounts and payments solutions to corporates and institutions internationally, is pleased to announce its audited Full Year Results for the financial year ended 31 December 2021.

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Financial Highlights

• ​Group revenue up 68% to £77.5m (2020: £46.2m).

• ​Underlying profit before tax up 91% to £33.4m (2020: £17.5m).

• ​Reported profit before tax up 94% to £33.2m (2020: £17.1m).

• ​Underlying profit before tax margin of 43% (2020: 38%).

• ​Reported profit before tax margin of 43% (2020: 37%).

• ​Basic earnings per share up 82% to 57.7p (2020: 31.7p).

• ​Underlying basic earnings per share up 78% to 58.3p (2020: 32.8p).

• Final dividend of 8.0 pence per share, payable on 13 May 2022 to shareholders on the register as at 19 April 2022, making a total dividend for 2021 of 11.0p (2020: 8.0p).

Operational Highlights

• ​Client numbers increased 27%, from 754 to 958.

• ​Average revenue per client grew by 32%.

• ​36% increase in average employee headcount, from 135 to 184.

• ​36% of employees hold a long-term equity interest in the business.

• ​Strong cash position and debt free with £109.8m net assets.

• ​Public launch of alternative banking platform for the alternative investment sector.

• ​Continued investment into risk and governance functions with headcount increased to seven heads.

• ​Post-period launch of new office in Milan, with further office launches in Luxembourg and Australia later in the year.

Morgan Tillbrook, Chief Executive Officer of Alpha FX commented:“I am incredibly proud of our team for the results achieved. We have consistently delivered year-after-year, even in the most testing of macro environments, and 2021 was no exception. Our capabilities, cash position and governance have never been stronger – bolstered by a healthy and balanced management bandwidth and clear and considered strategy. It's a very privileged position to be in, and one I know didn't happen by chance. I'd therefore like to thank everyone for their hard work and commitment, and look forward to seeing what we can do together in 2022 and beyond.”