Alpha Group International (AIM: ALPH), previously known as Alpha FX Group, released a trading update on Wednesday, revealing its expectation of closing 2022 with approximately £98 million in revenue. The figure is 27 percent higher than £77.5 million it generated in the previous year.

Alpha Group Expects Solid 2022 Revenue

Additionally, the company highlighted that its operating profit would be in-line with expectations and pre-tax profits would be ahead. However, it did not reveal any of those numbers in the latest trading update.

Alpha Group, rebranded last month, generated £46.1 million in revenue in the first six months of 2022, along with £17.8 million in pre-tax profits. Both these figures gained 35 percent and 16 percent, respectively. The company's revenue in the first half also shows that the performance marginally gained stream in the consecutive six months.

"2022 continued Alpha's thirteen consecutive years of strong organic and profitable revenue growth," said Morgan Tillbrook, the Founder and CEO of Alpha. "Whilst there is no doubt the world has moved into a more challenging macro-environment, we have proven our resilience, even when faced with unprecedented challenges."

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All Business Divisions Performed Well

Moreover, the trading update elaborated that Alpha's FX risk management division alone brought in a revenue of approximately £69 million last year, jumping from the previous year's £57 million, as the client numbers increased to 1,050. On top of that, revenue from its alternative banking solutions division jumped to £29 million from £20 million.

"As a business, we are in the strongest position we have ever been in, and with our growing number of products and geographies still barely scratching the surface of our addressable market," Tillbrook said.

"Moving into 2023 and beyond, we have all the foundations in place to deliver predictable, defensible, long-term growth, and I am therefore looking forward to the year ahead with confidence."

Meanwhile, the company expanded its geographical footprint with a new sales office in Bristol last year. The sales team of that office is specifically targeting the smaller business and has already generated revenues of over £2 million.