The results are Alpha FX's first since it listed in
Alpha FX posted pretax profit of
The company is paying a maiden final dividend, having paid out a first ever interim return for its first half, of
Alpha FX also announced the launch of a division to support institutional clients, expanding its addressable market. The division will not charge clients consultancy or software subscription fees, but will monetise its service through a margin on transactions.
On top of this, the firm has moved Operations Director Henry Lisney to chief operating officer. Lisney joined the firm in 2013 as a portfolio manager.
Client numbers increased 39% year-on-year during 2017, taking the total number to 310. Given revenue grew at a higher rate, this shows the company has won bigger clients doing bigger trades.
Alpha FX is to continue expansion in both the core
Going forward, Alpha said it has still only penetrated a small proportion of the market, and the firm said it is confident going into 2018 given the year has begun positively across all areas.
Chief Executive Morgan Tillbrook said: "I'm delighted with the progress that Alpha has made during the year. As well as delivering strong revenue and profit growth we have invested strategically across all aspects of our business to enable sustainable future growth, whist maintaining margins. The benefits of our IPO in April 2017 continue to exceed our expectations."
Shares in the company were trading at
