FairFX shares climb as turnover shoots up

Shares in multi-currency payments specialist FairFX (LON:FFX) shot up by 12.59% to 128.35p (as of 14:30 BST) after it announced that it had a turnover of £1.1 billion over the six months to 30th June, a 146% improvement over its performance in the same period of last year. Management said that this was in line with their expectations and that like-for-like turnover, excluding acquisitions made across the year, was 22.8%.

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CEO Ian Strafford-Taylor said that: “The substantial growth in turnover has also been achieved without reduced margins and this gives us great confidence for the prospects for 2018 and beyond“.