LONDON (Alliance News) - FAIRFX Group PLC Tuesday said trading was strong in the first six months of 2015, with revenue up by about 40% year on year.
The travel money and foreign exchange company said that revenue amounted to GBP310 million in the six-month period, as the business attracted 60,495 new customers. That brought total customer numbers to 465,205 at the end of June. In addition, 41,808 new currency cards were sold in the first half, which the company says was a 55% increase year-on-year.
Currency cards are used when travelling in place of changing money.
Chief Executive Ian Strafford-Taylor said the company's performance in the first half of July, as well as in the first half of the year, has provided evidence that its strategy is paying off.
"The second half of the year will be dominated by continuing customer acquisition coupled with active cross selling of our other products, especially FairPay and Dealing. In addition, we will start the process of adding new locations for FAIRFX outside of the UK which will yield benefits for both customers and FAIRFX because our peer-to-peer platform enables us to disintermediate the marketplace," Strafford-Taylor said in a statement.
FAIRFX shares were up 8.0% at 37.80 pence on Tuesday morning.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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