Alpha 1H-2017 results: Revenues £12.9 million, Profit £1.8 million, Client Cash £75 million


Institutional FX brokerage ACM Group plc, more commonly known in the industry as just Alpha, has issued its results report for the first half of fiscal 2017 (September 30 year end, first half results are through March 31, 2017).

At the half year mark the transformation process that the company began during the previous financial year continues to gain momentum despite a quarter of relatively low volatility.

Muhammad Rasoul, Alpha CEO

The company’s revenue in the six-month period to 31st March 2017: £12.9M (2016: £5.8M) increased by 123% against the same six-month period in the previous financial year.

Customer Assets grew 60% from ~ £45M at the end of Q1 to ~ £75M in Q2, up 700% from the same six-month period in the previous financial year.

As expected the company’s Cost of Sales increased in line with growth in revenue, but at a reduced pace of 74% cost of sales against 123% growth in revenues. Alpha believes this shows the scalability of their model and management stated that they are pleased to see the numbers match the concept.

Administrative Costs have also increased as the company has moved into China with a dedicated sales and operations team to drive revenue and support the local client base. The company has also opened an operations office in the US (Grand Rapids, MI) to further support the UK Head Office.

Investment in people and technology were the main drivers of the 90% increase in Administration Costs for the same 6 month period of 2016.

Alpha made net profit in the six-month period to 31st March 2017 of £1.77M (2016: Loss of £0.41M).

Alpha’s 2017 first half income statement:

Related News

arrow

Alpha 1H-2017 results: Revenues £12.9 million, Profit £1.8 million, Client Cash £75 million

10

Send this to a friend