UK's Equals Group gains as it sees FY23 trading ahead of expectations

Equals

27/03/2023 10:12

** Shares of fintech payments platform developer Equals
Group  EQLS.L  up as much as 11% to 90p, highest in nearly two
months
    ** Sees FY23 trading ahead of current expectations, driven
by strong sales momentum
    ** Q1 revenue more than doubled to 20.2 mln pounds ($24.8
mln)
    ** FY22 revenue up 58% to 69.7 mln pounds
    ** Co also swings to profit of 3.6 mln pounds in FY22 vs
loss of 2.3 mln pounds a yr ago
    ** Co says it is benefiting from larger volumes from broader
line-up of businesses which include large corporates
    ** Shares down 1.7% so far this year after gaining 37.7% in
2022

($1 = 0.8161 pounds)

 (Reporting by Anchal Rana in Bengaluru)
 ((Anchal.Rana@thomsonreuters.com; +91 9915609050;))