FairFX hails another year of 'significant' growth

E-banking and payments group FairFX said on Monday that 2018 had been "another year of significant growth", with further progress made towards its strategic goals.

In an update ahead of its annual meeting, the company said turnover and revenue growth continued to be "strong" in its last trading year, both organically and via acquisitions, with the group continuing to make investments in its technology in order to increase the functionality and capacity of its platform for further expansion.

The AIM-listed outfit also said it had enjoyed "a strong year to date" in 2019, in terms of both turnover and improved margins, as a result of rationalisation of its supply chain.

"In addition, the investments we made in 2018 are now flowing through in terms of new products being released in 2019; with one such example being the granting of the Bank of England settlement accounts and direct access to the Faster Payments scheme," said FairFX's chairman.

Looking forward, FairFX's board expects its trading performance for the full year to be in line with market expectations.

As of 0940 BST, FairFX shares had picked up 1.01% to 111.11p.