Skip to content
  • Home
  • About
  • Contact
  • Page
  • ​Master SEO Tactics
  • Top 9 Finance News Websites Ranking
wikifx

wikifx

  • Home
  • About
  • Contact
  • Page
  • ​Master SEO Tactics
  • Top 9 Finance News Websites Ranking
  • Toggle search form
  • FMA publishes information sheet outlining record-keeping obligations for financial advice providers forex news
  • Saxo Bank enhances Corporate Actions group in OpenAPI forex news
  • Robinhood responds to allegations about illegal spam texts forex news
  • Saxo Bank FX volumes drop below $100B for first time in 5+ years forex news
  • Apex Fintech Solutions acquires CODA Markets parent PDQ Enterprises forex news
  • FCA imposes requirements on Frensham Wealth Limited forex news
  • StanChart initiates research coverage of crypto assets forex news
  • Citi launches Real-Time Liquidity Sharing solution forex news

Equals Group YTD revenue reaches £40.4M beating expectations

Posted on 2021-12-08 By admin No Comments on Equals Group YTD revenue reaches £40.4M beating expectations

Equals Group plc (LON:EQLS), a technology-led international payments group focused on the SME marketplace, today provided a trading update for the period from 1 January 2021 to 6 December 2021 (the ‘year to date’) and 1 October 2021 to 6 December 2021 (the ‘Period’).

The Group says it has significantly exceeded full-year expectations for both revenues and Adjusted EBITDA. Group revenue for the year to date was £40.4 million compared to £26.8 million for the same period in 2020 – an increase of 51%.

Group revenue for the Period was £11.6 million compared to £5.7 million for the same period last year – an increase of 105%.

As announced on 28 October 2021, both the year to date and the Period benefitted from a material international payments transaction for a large corporate client that generated revenue of £1.5 million.

Underlying revenues rose by 45% over the year to date and 78% in the Period to date. These significant increases have been largely driven by strong demand for the Group’s ‘Equals Solutions’ proposition, the new multicurrency product aimed at larger businesses, which has generated £3.1 million in the year to date and £1.2 million in the Period alone; along with substantial growth in both the Group’s Spend platform and its white-label business.

Revenues from the Group’s B2C travel-money products represented only 5% of total revenue in the Period.

The strong performance in revenues has also underpinned increased gross profits and EBITDA and as such the Group has now exceeded full-year profitability forecasts.

This robust trading performance of the Group further underpins the Board’s confidence in accelerating momentum and maintaining growth moving into the final days of 2021 and into FY-2022. In order to drive further growth the Group continues to re-invest and upgrade the sales functions of the business and this will be reflected in higher staff costs in 2022.

Ian Strafford-Taylor, Chief Executive Officer, commented:

“I am delighted to be able to inform the market that the strong performance we saw in September and October has continued and allowed us to significantly surpass the market expectations for the full year in early December. Our results show the results of strategic steps we undertook three years ago to pivot the business to a B2B-focus and to invest into our platforms and connectivity.”

forex news Tags:forex-news

Post navigation

Previous Post: Centroid aggregation liquidity hub integrates with DXtrade platform
Next Post: Exclusive: Axicorp UK client revenues up 46% in 2021 to £17.2M

Related Posts

  • NFA to hike swap dealer dues forex news
  • Capitolis acquires trade compression solutions co LMRKTS forex news
  • Rakuten Group to replace Rakuten Card as parent of Rakuten Bank forex news
  • Visa appoints Frank Cooper III as Global CMO forex news
  • eToro secures dismissal of disability discrimination lawsuit forex news
  • Elon Musk complains about SEC conduct forex news

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent Posts

  • EUR/USD Holds Near 1.05 as Fed, ECB Policies Shape Market Sentiment
  • Gold Prices Hold Steady Amid Global Economic Uncertainty
  • Australian Dollar: How RBA Policies, Commodity Prices, and Global Tensions Are Shaping the AUD’s Market Performance
  • EUR/USD: Understanding the Currency Pair’s Trends
  • USD Under Pressure: Navigating Economic Data and Global Uncertainties

TAG

Axiory Review 2022 B2B B2Broker News Basic Forex Knowledge broker brokers brokers in the UK Brokersview Broker tools CFDs coin News cryptocurrency Cryptocurrency News Crypto News dogecoin FCA news finance forex forex-news Forex Broker Forex Brokers Forex Demo Account Forex market forex news forex scams forex time Forex trading fx fxtrader fxtrading Global Forex Gold Analysis HotForex InstaForex LiteForex Review 2022 markets work MT4 MT5 news OctaFX Review Samtrade FX South Africa trade Forex traders Trading Forex
  • IG shares rise 4% after reporting second half 2021 results forex news
  • SBI SECURITIES expands business relationship with Broadridge forex news
  • Fino Markets and Aga Trading websites blocked in Italy forex news
  • ICE bans trader who generated $1M in profit to the detriment of his employer forex news
  • CFTC seeks to suspend registration of Mississippi CTA due to criminal charges forex news
  • Exclusive: Dukascopy head of sales Sofian Berrahal jumps to Nexpay forex news
  • Citi launches Real-Time Liquidity Sharing solution forex news
  • Customer income supports Plus500 revenues in Q3 2021 forex news

Copyright © 2025 wikifx.

Powered by PressBook News WordPress theme