Alpha Group International (ALPH)

Sector:

Financials

Index:

FTSE AIM 100

1,830.00p
   
  • Change Today:
      10.00p
  • 52 Week High: 2,400.00p
  • 52 Week Low: 1,450.00p
  • Currency: UK Pounds
  • Shares Issued: 42.20m
  • Volume: 7,212
  • Market Cap: £772.20m
  • RiskGrade: 248

Alpha FX revenue in line, profit 'materially ahead' of expectations

By Josh White

Date: Friday 21 Oct 2022

LONDON (ShareCast) - (Sharecast News) - Foreign exchange risk management, accounts and payments specialist Alpha FX said in a trading update on Friday that its revenue was growing "strongly", in line with its recently-upgraded expectations, with "consistent" month-on-month growth against the prior year.
The AIM-traded firm said profit for the year ending December was expected to be "materially ahead" of expectations, as a result of the interest rate environment generating additional income from alternative banking's overnight cash balances.

Client default rates remained in line with expectations at the start of the year, despite subsequent macroeconomic pressures and extreme currency market volatility.

The group said it was continuing with its accelerated investment programme in its alternative banking division, as outlined in its first half results statement, alongside its investments in the global expansion of the foreign exchange risk management division.

Alpha FX said its regulatory licence had now been granted in Australia, with the team expanding and already generating revenue.

"I am pleased that we have continued to deliver on our upgraded revenue expectations, highlighting our robust business model during a period of macro volatility, with both our divisions continuing to perform strongly into the second half," said chief executive officer Morgan Tillbrook.

"Our tried and tested strategy in FX risk management continues to be successful within the current macroeconomic conditions, and we remain committed to ensuring our clients are advised appropriately whilst continuing to manage our own risk profile.

"At the same time, we have continued to grow the number of our Alternative Banking customers in response to the significant market demand."

At 1319 BST, shares in Alpha FX Group were up 9.6% at 2,044p.

Reporting by Josh White at Sharecast.com.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

ALPH Market Data

Currency UK Pounds
Share Price 1,830.00p
Change Today 10.00p
% Change 0.55 %
52 Week High 2,400.00p
52 Week Low 1,450.00p
Volume 7,212
Shares Issued 42.20m
Market Cap £772.20m
RiskGrade 248

ALPH Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
35.37% above the market average35.37% above the market average35.37% above the market average35.37% above the market average35.37% above the market average
33.85% above the sector average33.85% above the sector average33.85% above the sector average33.85% above the sector average33.85% above the sector average
Income Not Available
Growth
84.98% above the market average84.98% above the market average84.98% above the market average84.98% above the market average84.98% above the market average
77.97% above the sector average77.97% above the sector average77.97% above the sector average77.97% above the sector average77.97% above the sector average

ALPH Dividends

  Latest Previous
  Interim Final
Ex-Div 08-Sep-22 14-Apr-22
Paid 07-Oct-22 13-May-22
Amount 3.40p 8.00p

Trades for 03-Feb-2023

Time Volume / Share Price
10:55 53 @ 1,849.00p
10:48 103 @ 1,805.00p
10:48 28 @ 1,805.00p
10:37 399 @ 1,805.00p
10:29 250 @ 1,856.00p

ALPH Key Personnel

CEO Morgan James Tillbrook
CFO Tim Powell

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