by Joe Hope
Equals Group Plc said on Wednesday that there was a significant increase in revenue in 2021 and a good start to 2022.
The e-banking and payments group said revenue rose 52% to 44.1 million pounds ($60.1 million) for 2021. It said it had a strong end to the year with fourth-quarter revenue, up 96% year over year to GBP15.3 million.
The company said performance in 2022 continued the strong trend seen in the prior year, and that it expects to manage its costs effectively, despite cost inflationary pressures — particularly for payroll and utilities. .
“Without the need for additional investment capital, we have been able to grow revenue, profits and cash balances while continuing to invest in further product development. Accordingly, we are extremely excited and confident in the future of the Group,” said Chief Executive Ian Strafford- Taylor said.
Shares were up 2.5 pence, or 3.7%, at 69.5 pence at 0840 GMT.
Write to Joe Hope at [email protected]