Alpha Group International Plc (ALPH.L), a provider of high-tech, high-touch financial solutions, reported Tuesday that its fiscal 2024 underlying profit before tax and margin were in line with expectations, with growth in total income and revenues. This was despite a continuing difficult economic backdrop.
In its trading update for fiscal 2024, the company reported that total income of around 221 million pounds grew around 18 percent from 186 million pounds last year.
Revenue from underlying activities went up 23% to around 135 million pounds.
Underlying profit before tax and profit margin are in line with expectations following continued investment across the Group.
The company said both Corporate and Institutional divisions recorded around 20% growth year on year, driven by increasing contributions from overseas offices and new product offerings.
Looking ahead, the company said its Board remains confident in the outlook for the year ahead.
The full-year results statement for 2024 will be published in the week commencing March 17.
Clive Kahn, CEO, said, "The fact that Alpha has produced such levels of growth in challenging economic times is the greatest accolade to the strength of our model and team, particularly with the strong cash generation aided by the continuing high-interest rate environment."
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