Equals maintains record trading through third quarter

Payment technology company Equals said in a trading update on Monday that the record start to the third quarter, which it reported at its interim results on 14 September, had been sustained throughout the rest of the period, generating revenues of £11.7m.

The AIM-traded firm said that marked a continued acceleration in group trading, and represented a 33% run-rate increase on the prior quarter, a 62% increase on the prior-year comparative period, and a 47% improvement on the pre-pandemic comparative period in 2019.

“Revenue growth is broad based across all products augmented by the strong demand for the group's 'Equals Solutions' proposition, the new multicurrency product aimed at larger businesses,” the board said in its statement.

“This performance further underpins the board's confidence in accelerating momentum and maintaining growth moving into the final quarter of the year.”

At 1421 BST, shares in Equals Group were up 4.1% at 63.5p.