leadf
logo-loader
viewEquals Group PLC

Equals Group PLC chief 'phenomenally bullish' about prospects as revenues rise 20%

Ian Strafford- Taylor, Equals Group PLC’s (LON:EQLS) chief executive says he's phenomenally bullish about the payments group’s prospects. 

Shares took a buffeting after a trading update this week even though revenues rose 20% and underlying profits by 30%. 

Strafford-Taylor told Proactive he is a little nonplussed by the market's reaction. 

Since it listed in 2014, the business has pivoted away from a B2C travel card business to corporate-focused payments company, he says.

“71% turnover in 2019 came from corporate customers and the growth in turnover and revenues is stratospheric.” 

He says a decision to stop acquiring retail customers where it couldn’t make money affected revenues, but is unrepentant about the strategy.

“The real mistake is not to go fast enough. 

“We have to keep moving forward.”

Quick facts: Equals Group PLC

Price: 25.5 GBX

AIM:EQLS
Market: AIM
Market Cap: £45.54 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Red Rock Resources raises £1m to 'put rocket fuel into the engine'

  Red Rock Resources PLC's (LON:RRR) Andrew Bell talks to Proactive London about their £1m placing which will be used for their projects in Kenya, now that they have regained their license. Other projects in the Congo and Australia will also benefit from this placing and as Bell says,...

11 hours, 28 minutes ago

2 min read