Revenue soared by 60% in the six months ended 30 June to £15.6mln, with performance continuing to be driven by growth in Alpha’s core UK corporate market.
The AIM company has also seen an acceleration in European revenue from its multi-lingual London-based team.
Alpha is moving to a new office in the capital at the end of August as it looks to add to its team.
This will lead to an expected increase in costs in the second half but, despite this, the board still “expects full-year earnings to be ahead of expectations”.
“This is another strong period of trading and we remain excited about the prospects of continuing to deliver our strategy throughout the remainder of the year,” said chief executive and founder Morgan Tillbrook.
“I would like to thank all of our team for their efforts in the first half of the year and now look forward to carrying this momentum into the second half.”
City broker Liberum repeated its ‘buy’ recommendation on the back of the update, but hiked its price target up to 785p from 675p.
Of the first-half growth, analysts said: “This highlights their market share gains in the core UK and increasingly European corporate FX markets and the initial contributions from the Institutional business, Alpha Pay and the first overseas office initiative.”
Alpha shares were up 7.6% to 780p in early deals on Wednesday.