No products in the cart.
- Latest
- Trending
ADVERTISEMENT
Equals Group plc (AIM: EQLS) primarily provides payment solutions to small businesses, with record revenues of 31.3m in the first six months of 2022. It was a sharp increase of 84% year-on-year.
After being affected by the pandemic, the company changed its focus from the retail business to the B2B sector. This resulted in a surge in revenue from the international payments business to 16.1 million, a surge of more than 64% annually.
Other business units have also achieved sound growth. The company’s card business revenue was up 41% to 5.5 million and the travel cash business was up 400% to 500,000. Revenues from the banking business were flat at 2.8 million, but the solutions division took off, bringing 6.2 million. This has increased 20-fold in a year.
“We are very pleased that revenues increased 84% in the first half and all segments were very strong,” Equals CEO Ian Strafford Taylor said in a statement. I am.
Our earnings are very inflation-resistant and we are confident that this will benefit the Group and shareholders from the second half of 2022 onwards. “
In addition, the settlement-centric company ended its period with an estimated gross profit of 15m, an increase of 47% from the first half of 2021 figures. However, the gross profit margin dropped from 50.6% to 48.2%. In the second half of 2021.
Equals Connect’s white label business is holding back profit margins. Without this split, the gross margin in the first half of 2022 would have been 59%, compared to 60% in the second half of 2021.
Meanwhile, the London-based company has strengthened its leadership by recently hiring Tom Kiddle as Chief Commercial Officer of Equals Money, one of the group’s subsidiaries.
Equals Group plc (AIM: EQLS) primarily provides payment solutions to small businesses, with record revenues of 31.3m in the first six months of 2022. It was a sharp increase of 84% year-on-year.
After being affected by the pandemic, the company changed its focus from the retail business to the B2B sector. This resulted in a surge in revenue from the international payments business to 16.1 million, a surge of more than 64% annually.
Other business units have also achieved sound growth. The company’s card business revenue was up 41% to 5.5 million and the travel cash business was up 400% to 500,000. Revenues from the banking business were flat at 2.8 million, but the solutions division took off, bringing 6.2 million. This has increased 20-fold in a year.
“We are very pleased that revenues increased 84% in the first half and all segments were very strong,” Equals CEO Ian Strafford Taylor said in a statement. I am.
Our earnings are very inflation-resistant and we are confident that this will benefit the Group and shareholders from the second half of 2022 onwards. “
In addition, the settlement-centric company ended its period with an estimated gross profit of 15m, an increase of 47% from the first half of 2021 figures. However, the gross profit margin dropped from 50.6% to 48.2%. In the second half of 2021.
Equals Connect’s white label business is holding back profit margins. Without this split, the gross margin in the first half of 2022 would have been 59%, compared to 60% in the second half of 2021.
Meanwhile, the London-based company has strengthened its leadership by recently hiring Tom Kiddle as Chief Commercial Officer of Equals Money, one of the group’s subsidiaries.
