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: 29.5 GBX

Market: AIM
Market Cap: £52.69 m

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