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Alpha Group International PLC on Thursday said it is launching a new sales office in Bristol amid a new related share scheme.
The London-based provider of financial solutions said it aimed to provide its existing offering to smaller corporates, namely UK companies with a turnover of £5 million to £30 million.
Alpha explained: ‘Having only captured a fraction of the UK corporate market, the board believes that the group already has a substantial runway for growth. However, the UK small & medium-sized enterprises market represents an additional and attractive market opportunity that can be captured efficiently, cost-effectively and without distracting from our wider focus on larger corporates and institutions.’
‘The Bristol operation is already off to a strong start and has generated revenues in excess of £2 million in 2022.’
The company added that it is creating a new class of shares in Alpha FX Ltd, of which it will own 79%, with 21% owned by remaining Bristol participants. Alpha Group changed its name from Alpha Fx Group Ltd in December.
‘Whether you’re a £5 million company or a £500 million company, the impact of currency volatility is felt in the same way, but unfortunately smaller businesses often remain the most overlooked when it comes to strategic support,’ said Alpha Chief Executive Officer Morgan Tillbrook.
Alpha Group International shares were 0.3% higher at 1,805.00 pence each in London on Thursday morning.
By Tom Budszus, Alliance News reporter
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