- First half revenue increases 84 per cent to £31.7mn
- Revenue per day of £252,000 represents an 87 per cent year-on-year increase
- Cash balances up 50 per cent to £15.1mn on June 2021
- 2022 and 2023 earnings per share (EPS) estimates raised to 4.6p (9 per cent upgrade) and 6.2p (13 per cent)
Aim-traded fintech payments group Equals (EQLS:88p), a leading challenger brand in banking and payments that disintermediates the incumbent banks by providing a superior user experience and a low-cost operating model, continues to materially outperform analysts’ expectations.
In a pre-close trading update released ahead of the group’s interim results on Wednesday, 7 September 2022, the directors revealed that revenue per day increased by an eye-catching 87 per cent to £252,000 in the latest six-month period, implying a run-rate of £222,000 in the first quarter of 2022 has accelerated to £270,000 in the past three months.