Equals Group PLC AGM Statement (6872L)
17 Mayo 2022 - 09:04AM
UK Regulatory
TIDMEQLS
RNS Number : 6872L
Equals Group PLC
17 May 2022
For immediate release 17 May 2022
Equals Group plc
('Equals' or the 'Company')
AGM Statement
Equals (AIM:EQLS), a leading fintech payments group focused on
the SME marketplace, announces that at its Annual General Meeting
("AGM") to be held at 8:30am today, Alan Hughes, Chairman, will
make the following statement:
"We are delighted to report that the significant growth in
revenue across the Group, as reported in our FY-2021 in March, has
continued. Total Group revenue in the 91 business days to 15 May
2022 (the 'Period') was GBP22.0 million, an average of GBP241k per
working day. This was an increase of 86% in the daily average in
the same period in FY-2021, GBP129k per day (GBP11.9 million).
Total Group revenue was split as follows, core International
Payments representing 33%, the Solutions Platform 18%, Equals
Connect 23%; Cards (including, personal and business) 16%, and
Banking 10%. Given this current business mix, the gross profit
margin for the Group is trending in line with management
expectations at just under 50%.
As announced in the FY-2021 results, the Group has increased its
on-payroll headcount to around 265 at the end of the Period from
255 in December 2021. This has allowed an acceleration of
customer-facing systems development which is expected to drive
further revenue growth.
We continue to target talent and are delighted to announce the
appointment of Tom Kiddle to join our executive committee as Chief
Commercial Officer. Tom, who previously worked as UK General
Manager for the international payments group, WorldFirst, will
start on 1 July 2022 and will be responsible for sales, marketing,
and growth teams within the Group.
Also, as announced at the time of the FY-2021 results on 30
March 2022, the Group continues to invest in its customer
on-boarding processes to make it easier to become a customer of
Equals whilst not compromising on compliance. This will add modest
costs going forward but the Board believes that such tools are
critical to support further revenue growth for the Group.
We continue to monitor global macro-economic issues which
increase uncertainty, but we have confidence that our revenue
performance, offset with our investments in revenue-facing
functions, will lead to Adjusted EBITDA being ahead of market
expectations for FY-2022."
This announcement contains inside information.
- Ends -
For more information, please contact:
Equals Group plc
Ian Strafford-Taylor, CEO Tel: +44 (0) 20 7778
Richard Cooper, CFO 9308
www.equalsplc.com
Canaccord Genuity (Nominated Advisor
/ Broker)
Max Hartley / Georgina McCooke Tel: +44 (0) 20 7523
Alex Aylen (Sales) 8150
Buchanan (Financial Communications)
Henry Harrison-Topham / Steph Whitmore Tel: +44 (0) 20 7466
/ Toto Berger 5000
equals@buchanan.uk.com www.buchanan.uk.com
Notes to Editors:
Equals Group is a technology-led international payments group
augmented by highly personalised service for the payment needs of
SMEs whether these be FX, card payments or via Faster Payments.
Founded in 2007, the Group listed on AIM in 2014 and currently
employs around 265 staff across sites in London and Chester. For
more information, please visit www.equalsplc.com .
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END
AGMAFMRTMTIBBIT
(END) Dow Jones Newswires
May 17, 2022 10:04 ET (14:04 GMT)
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