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Equals Group FY earnings rise, momentum carries over into 2023

By Iain Gilbert

Date: Monday 27 Mar 2023

Equals Group FY earnings rise, momentum carries over into 2023

(Sharecast News) - Fintech payments firm Equals Group revealed on Monday that both full-year revenues and earnings had grown and said strong momentum had carried into the new year.
Equals said underlying earnings had improved 81% in 2021 to £12.1m in 2022, while revenues surged 58% to £69.7m as income on a per employee basis shot up 50% to £260,000.

Chief executive officer Ian Strafford-Taylor said: "Our rapid growth has continued into 2023, which is particularly pleasing when measured on top of the growth achieved in FY22.

"The group remains entirely focused on achieving further profitable growth, and, with our Q1'23 results being ahead of expectations, we look forward with much confidence."

Elsewhere, Equals has agreed to acquire global payments services provider Oonex for a total consideration of up to £4.1m as part of an effort to meet its strategic goals of being the business-to-business platform for worldwide money movement.

Equals also said the acquisition brings new card acquiring capabilities into its portfolio, complementing its recent acquisition of Roqqett back in January.

As of 0955 BST, Equals shares were up 7.54% at 87.11p.

Reporting by Iain Gilbert at Sharecast.com


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