Alpha Group Forecasts a 27% Increase in 2022 Revenue with Profit Ahead of Expectation

Alpha Group International plc, a high-tech, high-touch provider of financial solutions dedicated to corporates and institutions operating internationally, today announces a trading update for the financial year ended 31 December 2022.

Following on from the trading update issued in October 2022, the group's trading has continued to be strong. As a result, revenue for the full year is now expected to be approximately £98 million, representing an increase of 27% compared to the last year's £77.5 million.

In addition, Alpha expects operating profit to be in-line with expectations and profit before tax (including interest) to be ahead.

The group's FX Risk Management (FXRM) division has produced strong results, with revenues increasing to approximately £69 million from last year's £57 million and client numbers increasing to 1,050. Alpha looks forward to launching the sixth FXRM office in Madrid later in the year.

Alternative Banking Solutions (ABS) division generated approximately £29 million revenue in 2022, up from £20 million in 2021.

Morgan Tillbrook, Founder & Chief Executive Officer of Alpha said: "2022 continued Alpha's thirteen consecutive years of strong organic and profitable revenue growth. Whilst there is no doubt the world has moved into a more challenging macro-environment, we have proven our resilience, even when faced with unprecedented challenges."

"As a business, we are in the strongest position we have ever been in, and with our growing number of products and geographies still barely scratching the surface of our addressable market. Moving into 2023 and beyond, we have all the foundations in place to deliver predictable, defensible, long-term growth and I am therefore looking forward to the year ahead with confidence."