3 Jan 2019 07:00
3 January 2019
Alpha FX Group plc
("Alpha" or the "Group")
Trading update
Alpha FX Group plc (AIM:AFX), a UK-based foreign exchange service provider to the corporate and institutional market, today announces a trading update for the year ended 31 December 2018.
Following the previous trading update of 25 September 2018, the Board is pleased to announce that trading has continued to be strong and it expects earnings for the year ending 31 December 2018 to be ahead of market expectations.
This favourable performance has been achieved across the Group and continues to validate the investments that have been made to date. Both the corporate business (including UK and international clients) and the newly established institutional subsidiary performed strongly. It is expected that the next financial year will see further increases in investment to take full advantage of market opportunities, including ongoing investment in technology and back-office infrastructure as well as increased costs relating to the recently launched operation in Canada.
Alpha intends to publish its final results for the year ending 31 December 2018 in March 2019.
Enquiries:
Alpha FX Group plc via Alma PR
Morgan Tillbrook, Founder and CEO
Tim Kidd, CFO
Henry Lisney, COO
Liberum Capital Limited (Nominated Adviser and Sole Broker) Tel: +44 (0) 20 3100 2000
Neil Patel
Richard Bootle
Kane Collings
Alma PR (Financial Public Relations) Tel: 07780 901979
Josh Royston
Helena Bogle
Rebecca Sanders - Hewett
Market Abuse Regulation
This announcement is released by Alpha FX Group plc and contains inside information for the purposes of the Market Abuse Regulation (EU) 596/2014 ("MAR") and is disclosed in accordance with the Company's obligations under Article 17 of MAR. The person who arranged for the release of this announcement on behalf of Alpha FX Group plc was Tim Kidd, Chief Financial Officer.
Notes to Editors
Alpha is a UK-based foreign exchange service provider focused on managing exchange rate risk for corporates and institutions that trade internationally. The Group's primary client base consists of corporates and institutions that have a requirement to convert currency for a commercial purpose, such as buying or selling goods and services overseas, repatriating profits, or expatriating payroll. Since it was incorporated in 2010, Alpha has been able to build and retain a high-quality client base that includes a number of highly respected household brands.