Equals H1 Profit Jumps 44% , Year-to-Date Revenue Exceeds Full Year 2021

Equals Group, the technology-led international payments group focused on the SME marketplace, today released its interim financial results for the six months ended 30 June 2022 and an update on trading for the period from 1 July 2022 to 5 September 2022.

According to the figures, Equals Group's revenue for the half year came in at £31.4 million, an increase of 86% compared to £16.9 million for the same period in 2021. Gross profits for the period reached £14.9 million, which is an increase of 44% compared to £10.3 million in H1 2021. Adjusted EBITDA climbed to £4.9 million, compared to £1.6 million in the previous year.

In terms of the period from 1 July 2022 to 5 September 2022, the group's revenue reached £13.3 million, climbed 55% over the same period in 2021. in addition, the group's year-to-date revenue  reached £44.7 million, which already exceeds full-year performance in 2021.

Commenting on the Interim Results, Ian Strafford-Taylor, CEO of Equals Group plc, said:"This is an outstanding set of results with record revenue and EBITDA cementing our extremely successful transition into cash generation and, ultimately, a return to the first statutory profit since 2018."

"Trading in Q3-2022 has continued to be robust, despite global economic uncertainty and inflationary pressures, with strong growth over the same period last year.  We continue to see an increase in fee-based revenues to complement our transactional and FX revenues, which is part of our overall strategy for diversifying and de-risking our earnings streams.  Based on these strong results and our current trading performance, we look to the future with increased confidence and remain in line with expectations for the full year."