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25 Jan 2019 | 08:37

FairFX turnover doubles as International Payments delivers strong performance

Payments group FairFX said annual turnover more than doubled led by strong performance in its International Payments.

Full year turnover rose 111% to £2.3bn, in line with management expectations. Excluding the contribution from acquisitions of CardOne Banking in August 2017 and City Forex in February 2018, turnover was up 22%.

International Payments were up 134% and Prepaid Cards up 8%.

The company expected to report adjusted earnings (EBITDA) of approximately £7.5m. 'The board is pleased to confirm, however, it expects 2019 to be another year of significant growth,' FairFX said.

At 8:37am: (LON:FFX) Fairfx Group Plc Ord 1p share price was -0.5p at 106.5p

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