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12 January 2021 | 09:17am StockMarketWire.com - FX risk management and alternative banking solutions company Alpha FX said strong performance had continued, with underlying profit slightly ahead of most recent expectations. Growth for the year came from both its FX risk management and alternative banking divisions, despite the former seeing a significant impact in the first half from businesses delaying their trading activity because of the slowdown in global trade as a result of COVID-19, the company said. Client numbers increased by 16% during the year from 648 to 754. The company said it naturally anticipated conditions to be more challenging than they were in second half of last year when restrictions were lower, but added that it was cautiously optimistic for the year ahead amid the ongoing vaccine roll out. ....
12 January 2021 | 14:23pm StockMarketWire.com - Alpha FX Group said it expected revenue for the full year to 31 December to be approximately £46 million, up from £35 million the previous year. It said it expects underlying operating profit s to be slightly ahead of most recent expectations. Last year underlying profit was £14.7 million. The group said the limited scope of the Brexit deal covering financial services within the free trade agreement means it will now be concluding the final set up of a wholly-owned subsidiary established in Malta, with completion expected by the end of the first quarter. Morgan Tillbrook, chief executive of Alpha, said: ‘Despite the challenges faced, the team ensured 2020 was another consecutive year of strong growth across all divisions of the business. The lifeblood of Alpha s success is our people and I am extremely proud of our team for rising to the challenge to deliver in the way they have. ....