The AIM-listed payment group Equals Group today announced its interim results for H1 2022 with impressive numbers. Compared to H1 2021, the revenue increased by 86% increase to £31.4 million with £6.3 million derived from the Solutions platform. Gross profit increased by 44% increased to £14.9 million and the Adjusted EBITDA exploded by 203% to £4.9 million. Trading in Q3-2022 has continued to be robust, despite global economic uncertainty and inflationary pressures, the company said.
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The Equals people are proud of their results and apparently rightly so. CEO Ian Strafford-Taylor therefore said that his company has delivered record-breaking revenue and Adjusted EBITDA performance in H1-2022, leading to a first reported statutory profit and positive EPS. The underlying transactions through the Group’s payment platforms increased by 71%. In addition, the value of ‘deposits’, meaning loads on cards and deposits through the banking platform, rose by 55%.
In Q3 2022, Equals has continued the strong revenue generation seen in H1-2022 with revenue for the period from 1 July 2022 to 5 September 2022 being £13.3 million, representing a 55% increase on the same period in 2021.
