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FairFX ticks up as it reiterates full year guidance after strong start to 2019

John Pearson, chairman of the e-banking and payments group, said the company’s year to date had been strong in terms of both turnover and improved margins

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Pearson added that investments made in 2018 were starting to flow through in the current year

FairFX Group PLC (LON:FFX) shares ticked up on Monday as it reiterated its full-year guidance following a strong start to 2019.

In an update ahead of its AGM on Monday John Pearson, chairman of the e-banking and payments group, said the company’s year to date in 2019 had been strong in terms of both turnover and improved margins, which he said was as a result of the “further rationalisation” of the company’s supply chain.

READ: FairFX to pay additional £500,000 in deferred consideration for Q Money

Pearson added that investments the firm had made last year were beginning to flow through in the current year through new products, including the granting of access to settlement accounts at the Bank of England, which would allow it to process payments made through its platforms in real-time.

As a result, the company expected its performance for the full year to be “in line with market expectations”.

In early deals the shares were up 1% at 111.1p.

--Adds share price--

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