Alpha Group revenue and profits grow in H1
Alpha Group International
2,270.00p
16:40 06/09/24
Financial services firm Alpha Group said on Tuesday that interim revenue and profits had risen on the back of strong growth in both its corporate and institutional markets.
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Alpha said group revenues were up 16% in the six months ended 30 June to £64.0m, including a £1.0m contribution from the recently acquired Cobase business.
The FTSE 250-listed group stated this growth had been delivered whilst maintaining "strong underlying profit margins" alongside continued strategic investment. Alpha also noted that it had generated an additional £42.0m in net treasury income, taking total income in H1 to £107.0m, up from £90.0m a year earlier.
Alpha added that despite "continuing headwinds" persisting within the institutional market, year-to-date trading has been "encouraging" and remains in line with expectations set out at the start of the year
As of 0920 BST, Alpha shares were up 0.54% at 2,513.40p.
Reporting by Iain Gilbert at Sharecast.com