AGM Statement

Equals Group PLC

16 May 2023

 

For immediate release

16 May 2023

Equals Group plc

('Equals' or the 'Company')

AGM Statement

Equals (AIM:EQLS), a leading fintech payments group focused on the SME marketplace, announces that at its Annual General Meeting ('AGM') to be held at 2:30pm (BST) today, Alan Hughes, Chairman, will make the following statement:

"We are delighted to continue to report significant revenue growth. Total revenue in the 90 working days to 15 May 2023 was £32.7 million, an increase of 47%^* on the same period in 2022. Expressed as revenue per day, revenue in 2023 was £363k per day against £248k in 2022.

"The investment in the Group's platform and Solutions product has been extremely successful and revenues over the same period from Solutions have risen by 102%^* to £8.8 million (2022: £4.3 million).

"Gross profit margins have also increased to above 50%, which is three full percentage points higher than in the same period in 2022.

"We look forward to updating investors further when we issue our pre-close trading update in the first week of July and anticipate releasing our interim results in the week commencing 11 September 2023.

"Based on the above, the Board remains confident in achieving expectations for the full year ending 31 December 2023."

^* Based on underlying, not rounded, figures.

- Ends -

For more information, please contact:

Equals Group plc
Ian Strafford-Taylor, CEO Richard Cooper, CFO	Tel: [phone] www.equalsplc.com
Canaccord Genuity (Nominated Adviser & Joint Broker)
Max Hartley / Harry Rees	Tel: [phone]
Peel Hunt LLP (Joint Broker)
Paul Shackleton / John Welch	Tel: [phone]
Buchanan (Financial Communications)
Henry Harrison-Topham / Toto Berger [e-mail]	Tel: [phone] www.buchanan.uk.com

Notes to Editors:

Equals Group is a technology-led international payments group augmented by highly personalised service for the payment needs of SME's whether these be FX, card payments or via Faster Payments. Founded in 2007, the Group listed on AIM in 2014. For more information, please visit www.equalsplc.com.

 

END