Alpha FX to reinstate dividends, FY earnings expected to beat guidance
By Iain Gilbert
Date: Thursday 03 Dec 2020
(Sharecast News) - Foreign exchange risk management provider Alpha FX Group said on Thursday that strong trading seen during July and August had carried over into the subsequent months.
Alpha stated it had continued to record "a strong performance" in October and November, with second-half revenues across all business divisions growing year-on-year.
The AIM-listed group added that it had also started to see increased levels of cross-selling of additional services to both new and existing clients.
As a result, Alpha now expects full-year earnings to be ahead of expectations and made clear its intention to reinstate a dividend policy at the year-end.
"Mindful of the ongoing uncertainty surrounding Covid-19, the group will also provide a trading update as usual in January 2020," Alpha noted.
As of 1300 GMT, Alpha FX shares were up 2.86% at 1,260.0p.
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