Alpha FX Expects 2017 Revenue To Beat Market View After Strong Half

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LONDON (Alliance News) - Corporate foreign exchange provider Alpha FX Group PLC said on Monday it expects to report 2017 revenue ahead of market expectations after a strong first half.

Alpha FX said for the six months to June 30 its revenue was GBP6.3 million. The company said this was due to an increase in new clients and increasing volumes of trades with existing clients. As a result it expects to deliver full-year out turn above market expectations.

The period included 12 weeks as a publicly-listed company, after Alpha FX's flotation on AIM on April 7.

"The benefits of our IPO are already being seen through our wider recognition and the ability to attract and incentivise the right individuals for our business. As we continue to deploy the proceeds raised from the IPO we will be able to facilitate increasingly larger trades and accounts and we look forward to the remainder of this year and beyond with confidence," said founder and Chief Executive Morgan Tillbrook.

Shares in Alpha FX were up 2.8% at 473.00 pence Monday.

By Adam Clark; [email protected]

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