Alpha FX FY revenue and earnings seen ahead of recent expectations

Capital market company Alpha FX Group said on Wednesday that trading had remained strong since the publication of its interim results back in September, with the company now predicting that full-year revenues and earnings will be ahead of recent expectations.

Alpha FX said growth continued to be derived from its core corporate and institutional FX risk management divisions in London, with record half-year performances already being achieved in the second half across all three of its newer divisions - Alpha Netherlands, Alpha Canada and Alpha Platform Solutions.

The AIM-listed firm, which anticipated in its interim report that as part of its strategy to invest for future growth, costs would accelerate in the second half as restrictions posed by Covid-19 eased further, and stated that this had indeed been the case.

However, despite the increase in costs, Alpha FX highlighted that the continued strong trading since 1 September still left the group expecting full-year revenue and earnings to be ahead of its most recent expectations.

As of 1040 GMT, Alpha FX shares were up 3.69% at 2,105.0p.