The company will distribute a dividend of 8.0 pence per share in May 2021.
London-listed Alpha FX Group plc (LON:AFX) has published its annual financial results for 2020, reporting excellent jumps in its revenue and profits.
The company’s London Stock Exchange (LSE) filing revealed that the revenue of the group jumped by 31 percent to £46.2 million, which was £35.4 million the year before. It generated over £40 million of the revenue from FX Risk Management and the rest from an alternative banking service.
The reported pre-tax profits came in at £17.1 million, which was a jump of 27 percent.
The results were achieved with an increase in demand in the Forex trading market, which is the group company’s primary service. Alpha FX detailed that the number of its clients jumped by 16 percent last year from 648 to 754. The average per client revenue also increased by 12 percent.
Bullish Outlook
The company is still optimistic about its growth opportunities and expects to deliver another strong year of growth.
With the growth in its business demand, Alpha FX is continuously expanding its operations. Additionally, the group revealed that its Canadian branch, which was opened in 2018, turned profits last year.
Overall, the basic earnings per share of the company increased by 15 percent to 31.7 pence, and it will distribute a dividend of 8.0 pence per share in May.
Commenting on the financials, Alpha FX CEO Morgan Tillbrook said: “For many companies across the world, 2020 has represented their greatest challenge to date, and Alpha was no different. However, what I witnessed last year was a team that grew more ambitious, more determined and more connected with every challenge that was thrown at them. The result that the market will see today was another year of consecutive growth across all divisions, and I am naturally delighted with this. However, I believe the long-term benefits for our team and culture, having overcome this experience together, will prove far more valuable still.”
London-listed Alpha FX Group plc (LON:AFX) has published its annual financial results for 2020, reporting excellent jumps in its revenue and profits.
The company’s London Stock Exchange (LSE) filing revealed that the revenue of the group jumped by 31 percent to £46.2 million, which was £35.4 million the year before. It generated over £40 million of the revenue from FX Risk Management and the rest from an alternative banking service.
The reported pre-tax profits came in at £17.1 million, which was a jump of 27 percent.
The results were achieved with an increase in demand in the Forex trading market, which is the group company’s primary service. Alpha FX detailed that the number of its clients jumped by 16 percent last year from 648 to 754. The average per client revenue also increased by 12 percent.
Bullish Outlook
The company is still optimistic about its growth opportunities and expects to deliver another strong year of growth.
With the growth in its business demand, Alpha FX is continuously expanding its operations. Additionally, the group revealed that its Canadian branch, which was opened in 2018, turned profits last year.
Overall, the basic earnings per share of the company increased by 15 percent to 31.7 pence, and it will distribute a dividend of 8.0 pence per share in May.
Commenting on the financials, Alpha FX CEO Morgan Tillbrook said: “For many companies across the world, 2020 has represented their greatest challenge to date, and Alpha was no different. However, what I witnessed last year was a team that grew more ambitious, more determined and more connected with every challenge that was thrown at them. The result that the market will see today was another year of consecutive growth across all divisions, and I am naturally delighted with this. However, I believe the long-term benefits for our team and culture, having overcome this experience together, will prove far more valuable still.”
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
FM's Editor-in-Chief Yam Yehoshua on how the newsroom evaluates stories.
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Matthew Smith, Group CEO at EC Markets, speaking at FMLS:24
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
Finance Magnates Annual Awards 2024 | FM Awards 2024 Highlights
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
🎥Catch the best moments from the Finance Magnates Annual Awards Gala Dinner!
An evening where top names in finance came together to celebrate achievements, enjoy live music, and connect over a memorable dinner. Watch the highlights and feel the energy of our first gala in Cyprus!
Congratulations to all the winners for their dedication to excellence and leadership in the financial industry, including XM, Trading PRO, FP Markets, Deriv, FxPro, LATAM, Headway, ATFX, FBS, AMEGA, EC Markets, Axi
For more information about the 1st Finance Magnates Annual Awards, visit https://bit.ly/3Zb7wNz
#FinanceMagnatesGala #IndustryExcellence #GalaHighlights #FinanceMagnatesAnnualAwards #FinanceMagnatesAwards #CelebratingSuccess #FinanceCommunity
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
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Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
Whether you’re in finance, technology, or payments, this summit is your gateway to future growth, meaningful collaborations, and industry-leading insights.
👉 Don't miss out – secure your ticket now at https://events.financemagnates.com/ZQEYy0?utm_source=youtube&utm_campaign=fmls24-awareness&utm_medium=video&RefId=MLS%3A24+Video+Promo
#fmls #fmls24 #fmevents #financemagnates #forex #payments #crypto #events #london #fintech #ai #generativeai #technology #onlinetrading #forex #investing #investors #tech
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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