AGM Statement
16/05/2023 07:00
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RNS Number : 4773Z Equals Group PLC 16 May 2023
For immediate release 16 May 2023
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 2:30pm (BST) today, Alan Hughes, Chairman, will make the following
statement:
"We are delighted to continue to report significant revenue growth. Total
revenue in the 90 working days to 15 May 2023 was £32.7 million, an increase
of 47%(*) on the same period in 2022. Expressed as revenue per day, revenue in
2023 was £363k per day against £248k in 2022.
"The investment in the Group's platform and Solutions product has been
extremely successful and revenues over the same period from Solutions have
risen by 102%(*) to £8.8 million (2022: £4.3 million).
"Gross profit margins have also increased to above 50%, which is three full
percentage points higher than in the same period in 2022.
"We look forward to updating investors further when we issue our pre-close
trading update in the first week of July and anticipate releasing our interim
results in the week commencing 11 September 2023.
"Based on the above, the Board remains confident in achieving expectations for
the full year ending 31 December 2023."
(*) Based on underlying, not rounded, figures.
- Ends -
For more information, please contact:
Equals Group plc
Ian Strafford-Taylor, CEO Tel: +44 (0) 20 7778 9308
Richard Cooper, CFO www.equalsplc.com (http://www.equalsplc.com)
Canaccord Genuity (Nominated Adviser & Joint Broker)
Max Hartley / Harry Rees Tel: +44 (0) 20 7523 8150
Peel Hunt LLP (Joint Broker)
Paul Shackleton / John Welch Tel: +44 (0) 20 7418 8900
Buchanan (Financial Communications)
Henry Harrison-Topham / Toto Berger Tel: +44 (0) 20 7466 5000
equals@buchanan.uk.com (mailto:equals@buchanan.uk.com) www.buchanan.uk.com (http://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 SME's whether these be
FX, card payments or via Faster Payments. Founded in 2007, the Group listed on
AIM in 2014. For more information, please visit www.equalsplc.com
(http://www.equalsplc.com) .
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