Share Prices & Company Research

Market News

26 Apr 2019 | 08:24

FairFX profits soar as turnover more than doubles amid strong growth in international payments

Payments group FairFX said annual profits soared as annual turnover more than doubled led by strong performance in its International Payments. For 2018, adjusted profit before tax surged 650% to £6.79m from a year earlier as and revenue rose 69% to £26.1m as turnover rose 111% to £2.3bn. The revenue growth slowed from a year earlier, however, as 'a key part of the growth stemmed from International Payments (increase of 69%) and Corporate Cards (increase of 31%), which have lower revenue margins than retail cards,' the company said. Adjusted earnings (EBITDA) rose more than 680% to £7.51m for the year from a year earlier that was in-line with guidance given in January. 'The Board is confident of achieving expectations for the full year,' FairFX said.

At 8:24am: (LON:FFX) Fairfx Group Plc Ord 1p share price was +6p at 101p

Story provided by StockMarketWire.com
Get in touch today
Join Redmayne Bentley
Talk to us now about opening a new account or transferring your account from another provider
0113 243 6941
Get in touch today
Contact your local office
Contact your local office to find out more
The value of your investments and the income from them may go down as well as up, and you could get back less than you invested.
We use cookies on this site to improve your experience and help us provide you with a better website. An explanation of the cookies we use and their purpose can be found within our Cookie Policy. Your continued use of this site means you consent to the use of cookies.