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Abstract:The annual revenue of the company jumped to £77.5 million. Its profit margin improved to 43 percent.
Alpha FX Group (LON: AFX), which provides FX risk management, accounts and payments solutions to corporates and institutions, published its annual financials for 2021, ending on December 31. Its revenue jumped by 68 percent to £77.5 million.
Additionally, all other financial and operational parameters of the company improved significantly last year.
The reported pre-tax profits of the company jumped by 94 percent. It came in at £33.2 million, compared to the previous year‘s £17.1 million. In addition, the profit margin improved to 43 percent from the prior year’s 37 percent.
However, the company‘s revenue and profits growth slowed down in the second half of the year. In the first six months of the year, the London-based company’s revenue shoot up 90 percent, while profits jumped 225 percent.
The annual basic earnings per share came in at 57.7 pence, which is 87 percent higher than 2020. Moreover, the company decided to pay a dividend of 8 pence per share to its shareholders, taking the total dividend distribution for the financial year to 11 pence.
Bringing More Clients
Coming to the operational side, the number of clients of the company increased from 754 to 958 last year. Also, the average revenue per client increased by 34 percent.
Furthermore, the company highlighted that it is holding a strong cash position and is debt-free with £109.8 million in net assets. It has opened a new office in Milan and has plans for two more offices, one in Luxembourg and the other in Australia.
“I am incredibly proud of our team for the results achieved,” said Morgan Tillbrook, Alpha FXs CEO.
“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.”
Disclaimer:
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