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Alpha FX Group PLC on Monday said its half-year results were in line with expectations, as it lifted its dividend by 13%.
Alpha is a London-based foreign exchange risk management and international payments.
For the six months that ended on June 30, the company said revenue rose 35% to £46.1 million from £34.2 million a year earlier, as pretax profit increased by 16% to £17.8 million from £15.3 million.
Alpha noted that revenue included £1.4 million relating to the recharge of bank fees incurred by the group on Euro E-money wallet balances. These attracted a negative interest rate, with the cost being directly passed to the client.
Operating profit rose by 17% to £18.0 million from £15.4 million a year earlier.
Chief Executive Officer Morgan Tillbrook said: ‘Although much of the world is moving into a challenging macro environment, I have never felt more confident about the potential of the business and our long-term growth prospects. Our highly decentralised structure has helped us to evolve our business model and strategy in a way that is delivering significant competitive advantage and momentum whilst giving us the clarity and confidence to increase the rate at which we are investing for long-term growth.’
The company declared an interim dividend of 3.4 pence per share, up 13% from 3.0p a year prior.
It said it delivered earnings during this period in line with expectations. Looking ahead, Alpha said it will continue to invest in for growth in the second half of the year, and expects to meet management expectations on revenue and profit for the full-year.
Shares were up 0.7% at 1,808.00 pence each on Monday morning in London.
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