Despite macro headwinds, Alpha forecasts full-year results to align with market expectations.
Alpha Group
International plc (LSE: ALPH), a publicly-listed financial solutions provider
for international corporates and institutions, has released its unaudited interim
report for H1 2023. The report confirmed overall revenue of £55
million which was initially revealed in the company’s trading update published in late July.
Alpha Group Reports
Revenue Boost in H1 2023
The
company's revenue surged 20%, reaching £55 million, compared to £46 million
in the first half of 2022. This growth was accompanied by an increase of 9% in
underlying profit before tax, which stood at £19.6 million. On a statutory
basis, the profit before tax skyrocketed 194% to £52.4 million, which is largely due
to other operating income from interest on client balances.
Alpha Group
also reported a 35% margin in underlying profit before tax, even as it
continues its accelerated investment program. This is a slight dip from the 39%
margin reported in H1 2022. Basic earnings per share increased 163% to 87.8
pence, although it decreased 2% on an underlying basis due to increased UK
corporation tax rates.
“Whilst we
are mindful of macro headwinds, we have proven in H1 that we can grow strongly
despite these, given the resilience and momentum within our business,” Alpha
Group commented in the interim report.
This
confirms the results that the company published in its July trading update. At
that time, it reported that June was a record month in terms of revenue
generated.
Operational Highlights and
Future Outlook
The
company's FX Risk Management sector saw a revenue increase of 21% to £39 million,
while its Alternative Banking revenue rose 17% to £16 million. The number of
FX Risk Management clients grew 12%, and the average revenue per client
increased 6%. Alpha Group also expanded its operational footprint by launching a Fund Finance offering and the proposed acquisition of Cobase, a
leading provider of bank connectivity technology.
The
company's headcount increased to 430, and it plans to open a second office in
Paddington focused on the institutional market. Alpha Group remains optimistic
about its future, citing its strategic diversification and strong performance
as reasons for confidence despite ongoing macroeconomic challenges.
“Moving
into H2, macro headwinds are likely to remain, however as a result of the
strategic diversification of our business, and our performance to date, we
remain confident in delivering full-year results in line with our expectations,”
Alpha Group added.
The company
additionally announced a proposed interim dividend of 3.7 pence per share. This is up from 3.4
pence in H1 2022, signaling its stronger cash and liquidity position, which
increased 25% over six months to over £142 million.
Almost a year ago, the organization formally declared that Tim Powell had joined its ranks.
Powell has assumed the key positions of Chief Financial Officer (CFO) and Board
Executive Director.
Alpha Group
International plc (LSE: ALPH), a publicly-listed financial solutions provider
for international corporates and institutions, has released its unaudited interim
report for H1 2023. The report confirmed overall revenue of £55
million which was initially revealed in the company’s trading update published in late July.
Alpha Group Reports
Revenue Boost in H1 2023
The
company's revenue surged 20%, reaching £55 million, compared to £46 million
in the first half of 2022. This growth was accompanied by an increase of 9% in
underlying profit before tax, which stood at £19.6 million. On a statutory
basis, the profit before tax skyrocketed 194% to £52.4 million, which is largely due
to other operating income from interest on client balances.
Alpha Group
also reported a 35% margin in underlying profit before tax, even as it
continues its accelerated investment program. This is a slight dip from the 39%
margin reported in H1 2022. Basic earnings per share increased 163% to 87.8
pence, although it decreased 2% on an underlying basis due to increased UK
corporation tax rates.
“Whilst we
are mindful of macro headwinds, we have proven in H1 that we can grow strongly
despite these, given the resilience and momentum within our business,” Alpha
Group commented in the interim report.
This
confirms the results that the company published in its July trading update. At
that time, it reported that June was a record month in terms of revenue
generated.
Operational Highlights and
Future Outlook
The
company's FX Risk Management sector saw a revenue increase of 21% to £39 million,
while its Alternative Banking revenue rose 17% to £16 million. The number of
FX Risk Management clients grew 12%, and the average revenue per client
increased 6%. Alpha Group also expanded its operational footprint by launching a Fund Finance offering and the proposed acquisition of Cobase, a
leading provider of bank connectivity technology.
The
company's headcount increased to 430, and it plans to open a second office in
Paddington focused on the institutional market. Alpha Group remains optimistic
about its future, citing its strategic diversification and strong performance
as reasons for confidence despite ongoing macroeconomic challenges.
“Moving
into H2, macro headwinds are likely to remain, however as a result of the
strategic diversification of our business, and our performance to date, we
remain confident in delivering full-year results in line with our expectations,”
Alpha Group added.
The company
additionally announced a proposed interim dividend of 3.7 pence per share. This is up from 3.4
pence in H1 2022, signaling its stronger cash and liquidity position, which
increased 25% over six months to over £142 million.
Almost a year ago, the organization formally declared that Tim Powell had joined its ranks.
Powell has assumed the key positions of Chief Financial Officer (CFO) and Board
Executive Director.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
FX Volatility Impacts Q1 Revenue of Compagnie Financière Tradition
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
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20-22 MAY 2024
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Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
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20-22 MAY 2024
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#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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