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RNS Number : 4823S Alpha FX Group PLC 17 March 2021 17 March 2021 Alpha FX Group plc ( " Alpha FX " or the " Group " ) Full Year results for the year ended 31 December 2020 Alpha FX Group plc ( AIM : AFX ) , a provider of FX risk management and alternative banking solutions to corporates and institutions internationally , is pleased to announce its audited Full Year results for the year ended 31 December 2020 . Financial Highlights . Group revenue up 31 % to £ 46.2m ( 2019 £ 35.4m ) Underlying✶ profit before tax up 20 % to £ 17.5m ( 2019 £ 14.6m ) Reported profit before tax up 27 % to £ 17.1m ( 2019 £ 13.5m ) Underlying profit before tax margin of 38 % ( 2019 41 % ) Basic earnings per share up 15 % to 31.7p ( 2019 27.7p ) and on an underlying basis 32.8p ( 2019 : 30.1p ) Final dividend of 8.0 pence per share , payable on 14 May 2021 to shareholders on the register as at 16 April 2021 Operational highlights 16 % increase in client numbers , from 648 to 754 ** Average revenue per client grew by 12 % 32 % increase in average employee headcount , from 102 to 135 44 % of employees hold a long - term equity interest in the business *** Solid cash position and debt free with £ 91m net assets and £ 52m in free cash Cash conversion of 100 % , excluding the impact of our Norwegian client ( 2019 72 % ) Canadian office launched in 2018 now profitable for the full year Alpha Platform Solutions launched in 2018 now profitable and grew year on year revenues by over 600 % * Underlying excludes the impact of exceptional property related costs in the prior year and non - cash share - based payments . ** The Group exclude Training Accounts ( those that have generated less than £ 10,000 in revenue since being onboarded ) in order to provide a clearer picture of client retention for the purposes of these figures . *** The Group defines a ' long - term equity interest ' as an equity stake : held prior to the Company's IPO ; or held in the Group's B , C or E growth share scheme ; or shares owned directly in one of the Group's trading subsidiaries . Outlook The success of our investments to date has ensured that the market opportunity for Alpha remains strong , and our business resilient , even under the most testing conditions . Whilst COVID - 19 provides a continuing cause for caution across the world , the Group has made an excellent start to the year . Subsequently , the Board remains optimistic that , providing the situation under COVID - 19 does not deteriorate , the Group is on track to deliver another strong year of growth . Morgan Tillbrook , Chief Executive Officer of Alpha FX , commented : " For many companies across the world , 2020 has represented their greatest challenge to date , and Alpha was no different . However , what I witnessed last year was a team that grew more ambitious , more determined and more connected with every challenge that was thrown at them . The result that the market will see today was another year of consecutive growth across all divisions , and I am naturally delighted with this . However , I believe the long - term benefits for our team and culture , having overcome this experience together , will prove far more valuable still . " Enquiries : Alpha FX Group plc Morgan Tillbrook , Founder and CEO Tim Kidd , CFO via Alma PR Liberum Capital Limited ( Nominated Adviser and Sole Broker ) Tel : +44 ( 0 ) 20 3100 2000 Neil Patel Richard Bootle Kane Collings Alma PR ( Financial Public Relations ) Josh Royston Helena Bogle Market Abuse Regulation Tel : 07780 901979 This announcement is released by Alpha FX Group plc and contains inside information for the purposes of Article 7 of the Market Abuse Regulation ( EU ) 596/2014 as it forms part of UK domestic law by virtue of the European Union ( Withdrawal ) Act 2018 ( " MAR " ) , and is disclosed in accordance with the Company's obligations under Article 17 of MAR . The person who arranged for the release of this announcement on behalf of Alpha FX Group plc was Tim Kidd , Chief Financial Officer . Page 1 of 13