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FairFx on track to achieve profitability in 2017

Published: 15:30 28 Sep 2016 BST

Ian Strafford-Taylor, chief executive of  FairFX Group, said the firm was still targeting profitability in 2017 after a solid first half, which saw a gross profits and turnover rise at the currency and payments firm.
In the six months to June 30, revenues rose 26% and gross profit was up 30%.
This was down to a switch to higher margin products.
"We started to focus in 2015 more on the card products and the international payments product," said the company boss.
Meanwhile, the decision of the UK to exit the European Union has certainly led to interesting times in foreign exchange markets and has led to some economic uncertainty, but the board of FairFX continues to be confident of meeting market expectations for the full year.
Strafford-Taylor said the firm had been "phenomenally busy" im the run up to June 23, but then there was a lull as people were shocked by the vote and now things were picking up again.
The second half has started well, he said, with turnover for July and August 32% higher than the same time last year.

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