Alpha Group Ascends to LSE’s Premium Listing, Sets Sights on FTSE Index

• Alpha Group International plc, a foreign exchange service provider, has confirmed its upgrade to the premium list of the London Stock Exchange’s main market.
• This strategic move aligns with the company’s expansion plans and sets the stage for possible inclusion in the FTSE index.
• The company’s strong financial performance, including a 140% increase in profit before tax, has been a significant factor in this transition.

Alpha Group International plc, a leading foreign exchange service provider, has successfully transitioned to the premium list of the London Stock Exchange’s main market, paving the way for potential inclusion in the FTSE index.

Transition from AIM to Main Market

Alpha Group, initially listed on the LSE’s Alternative Investment Market (AIM) in 2017, announced on Thursday that it would transition its ordinary shares to be traded on the main market and be admitted to the LSE’s premium listing segment. The AIM is known for its more flexible criteria for entrepreneurial companies regarding aspects such as minimum free float. This move coincides with the cancellation of its AIM listing and aligns with the company’s previously stated plans.

Implications of the Shift

The shift to the premium market segment, which imposes more stringent revenue requirements, is said to enable Alpha Group to expand its operations and qualify for inclusion in the FTSE index. The company’s strong financial performance, including a 140% increase in profit before tax, has been a significant factor in this transition. Additionally, the company’s balance sheet and liquidity position remained very strong, with adjusted net cash increasing by over £60 million to more than £177 million.

Financial Performance and Expansion

Alpha Group’s financial performance has been noteworthy, with a total revenue of £110 million in 2023, up 27% from a year ago. Profit before tax also increased by 140%, or £115 million, up from £47.2 million in FY 2022. The underlying profit before tax grew by 10% to about £42 million. Despite various market challenges, the company maintained a consistent underlying profit margin of 39%. The company’s other operating income from interest on client balances exceeded £73 million, well above the £9.3 million reported in FY 2022.

Conclusion

Alpha Group’s transition to the LSE’s premium listing segment marks a significant milestone in the company’s growth trajectory. With its strong financial performance and strategic expansion plans, the company is well-positioned to capitalize on new opportunities and potentially secure a spot in the FTSE index. This move is expected to further bolster the company’s market presence and offer enhanced value to its shareholders.