The company reported a robust jump in every essential financial measure.
Additionally, it increased the number of clients and employees.
Alpha Group
International (AIM:ALPH), previously known as Alpha FX Group, released its 2022
full-year results on Wednesday, revealing a robust revenue and net income gain compared to the previous year. The Group's earnings came in at £98.3m, increasing
by 27% on a yearly basis.
Alpha Group Reports Strong
2022 Numbers
According
to the London Stock Exchange's (LSE) filing made by Alpha Group, the company delivered 'strong financial performance' alongside a 'significant year
of investment'. The profit before tax, including other operating income, was
up 42% from £33.2 million to £47.2 million year-over-year (YoY).
Alpha Group
saw visible growth in both of its principal divisions. FX Risk Management
revenue grew 22% to £69.5 million, while Alternative Banking Solutions grew 41%
to £28.8 million. Overall, the net profit for the year came in at £39.05
million, rising by £13 million YoY. This
confirms information that Alpha Group shared with the market in the second half
of January. At that time, in a trading update, it projected that revenue growth
for last year would come in at 27%.
"We
achieved these results alongside a significant year of investment in our
people, processes, and technologies, with a 67% increase in employee headcount,
taking our team to over 350 people across eight global offices, strengthening
the foundations for future growth," Morgan Tillbrook, the Alpha Group Founder
and CEO, commented in the financial report.
In
reaction to the 2022 report, Alpha Group shares on the LSE rose 3% during
Wednesday's opening session to £1850.
Alpha Boosts FX Risk
Management
In the FX
Risk Management sector, the company was able to increase the number of its
clients by 19% YoY, from 881 reported in 2021 to 1,047. Additionally, the average
revenue per FX Risk Management client continued to increase.
Continued
growth led the company to boost its headcount from 214 to 357 employees in
2022. The FX Risk Management Front Office grew by 52% YoY, from 67 to 102.
Throughout
the year, the company opened new international offices in Sydney, Milan, Bristol and
Luxembourg, with another expected to open in Madrid as early as Q2 2023.
"In FX
Risk Management meanwhile, the team's passion and belief in our 'Selling
Standards' framework has meant there were often moments in 2022 where revenue
was left on the table, as we doubled down on our risk management principles,
and challenged clients even further on what they need, versus what they want;
an essential business conversation that in times of heightened FX volatility
can often be even more challenging," Tillbrook added.
Alpha Group,
utilizing advanced technology and expertise, offers FX risk management and
alternative banking solutions to institutions and corporates in Canada, Europe,
and the UK. At the end of 2022, the company decided to change its name from
Alpha FX, stating that "the change reflects where we are today as a
business, as well as our ambition to be a leading provider of a growing range
of financial solutions."
Additionally,
the company has announced the appointment of Tim Powell to its team. Powell serves
as the Chief Financial Officer (CFO) and an Executive Director of the Board.
Alpha Group
International (AIM:ALPH), previously known as Alpha FX Group, released its 2022
full-year results on Wednesday, revealing a robust revenue and net income gain compared to the previous year. The Group's earnings came in at £98.3m, increasing
by 27% on a yearly basis.
Alpha Group Reports Strong
2022 Numbers
According
to the London Stock Exchange's (LSE) filing made by Alpha Group, the company delivered 'strong financial performance' alongside a 'significant year
of investment'. The profit before tax, including other operating income, was
up 42% from £33.2 million to £47.2 million year-over-year (YoY).
Alpha Group
saw visible growth in both of its principal divisions. FX Risk Management
revenue grew 22% to £69.5 million, while Alternative Banking Solutions grew 41%
to £28.8 million. Overall, the net profit for the year came in at £39.05
million, rising by £13 million YoY. This
confirms information that Alpha Group shared with the market in the second half
of January. At that time, in a trading update, it projected that revenue growth
for last year would come in at 27%.
"We
achieved these results alongside a significant year of investment in our
people, processes, and technologies, with a 67% increase in employee headcount,
taking our team to over 350 people across eight global offices, strengthening
the foundations for future growth," Morgan Tillbrook, the Alpha Group Founder
and CEO, commented in the financial report.
In
reaction to the 2022 report, Alpha Group shares on the LSE rose 3% during
Wednesday's opening session to £1850.
Alpha Boosts FX Risk
Management
In the FX
Risk Management sector, the company was able to increase the number of its
clients by 19% YoY, from 881 reported in 2021 to 1,047. Additionally, the average
revenue per FX Risk Management client continued to increase.
Continued
growth led the company to boost its headcount from 214 to 357 employees in
2022. The FX Risk Management Front Office grew by 52% YoY, from 67 to 102.
Throughout
the year, the company opened new international offices in Sydney, Milan, Bristol and
Luxembourg, with another expected to open in Madrid as early as Q2 2023.
"In FX
Risk Management meanwhile, the team's passion and belief in our 'Selling
Standards' framework has meant there were often moments in 2022 where revenue
was left on the table, as we doubled down on our risk management principles,
and challenged clients even further on what they need, versus what they want;
an essential business conversation that in times of heightened FX volatility
can often be even more challenging," Tillbrook added.
Alpha Group,
utilizing advanced technology and expertise, offers FX risk management and
alternative banking solutions to institutions and corporates in Canada, Europe,
and the UK. At the end of 2022, the company decided to change its name from
Alpha FX, stating that "the change reflects where we are today as a
business, as well as our ambition to be a leading provider of a growing range
of financial solutions."
Additionally,
the company has announced the appointment of Tim Powell to its team. Powell serves
as the Chief Financial Officer (CFO) and an Executive Director of the Board.
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.
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
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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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
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
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
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
🎥 TikTok: https://www.tiktok.com/@fmevents_official
▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
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
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
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
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
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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
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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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
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
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.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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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.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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