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Equals Group PLC - London-based fintech payments group focused on the Enterprise and SME marketplaces - Reports pretax profit of £5.8 million in the six months ended June 30, multiplied from just £900,000 a year prior as revenue rises 43% to £45.0 million from £31.4 million. Notes underlying transaction values in the half increase to £6.0 billion from £4.2 million year-on-year. ‘This is an outstanding set of results with record revenues combining with improved gross profit retention to yield enhanced profitability,’ says Chief Executive Ian Strafford-Taylor, adding that the results, combined with strong cash generation, allow Equals to pay a maiden dividend. To do so, Equals calls a general meeting for October 3 to approve a reduction in its share premium account that will free up £25.0 million in distributable reserves. This is expected to be completed by mid-October, at which point Equals proposes to pay out 1.5 pence per share. Current stock price: 103.66 pence, up 3.7% in London on Tuesday afternoon 12-month change: up 5.2% Copyright 2023 Alliance News Ltd. All Rights Reserved.
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