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30 May 2019 | 08:48

Finablr's Travelex reports rise in revenue, earnings amid 'strong' performance in Middle East, Turkey

Travelex, one of Finablr's network brands, reported a rise in revenue and earnings in the first quarter, driven by a 'strong' performance across geographies within Middle East and Turkey.

For the first quarter, revenue grew 3% to £174.5m from £169.5m a year earlier, at constant currency, core Travelex earnings (EBITDA) grew 107% year on year to £2.9m from £1.4m.

Travelex's year-to-date trading was in line with management expectations and consistent with the guidance set out for the group at IPO.

'Travelex's revenue is generally lower for the first quarter of the year because a significant part of its business serves the leisure segment of the travel industry, which is particularly active during the summer season in the Northern hemisphere,' the company said. At 8:48am: (LON:FIN) share price was -1.3p at 166.5p

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