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Alpha Group revenue and profits grow in H1
(Sharecast News) - Financial services firm Alpha Group said on Tuesday that interim revenue and profits had risen on the back of strong growth in both its corporate and institutional markets.
Alpha said group revenues were up 16% in the six months ended 30 June to £64.0m, including a £1.0m contribution from the recently acquired Cobase business.
The FTSE 250-listed group stated this growth had been delivered whilst maintaining "strong underlying profit margins" alongside continued strategic investment. Alpha also noted that it had generated an additional £42.0m in net treasury income, taking total income in H1 to £107.0m, up from £90.0m a year earlier.
Alpha added that despite "continuing headwinds" persisting within the institutional market, year-to-date trading has been "encouraging" and remains in line with expectations set out at the start of the year
As of 0920 BST, Alpha shares were up 0.54% at 2,513.40p.
Reporting by Iain Gilbert at Sharecast.com
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