Aquis Exchange PLC (LON:AQX) today announced its audited results for the year ended 31 December 2023.
During 2023, net revenue increased by 13% to £22.7 million.
The Group generated a profit before taxation for the year of £5.2 million compared to £4.5 million in the previous year. The continued growth in profits during 2023 is primarily attributable to increased exchange revenue through the growing success of AMP and revenue growth from members’ subscriptions as a result of increased trading levels, along with increased revenue from data, technology licensing and issuer fees.
Profit before tax increased 15% to £5.2 million (2022: £4.5m) and EPS increased to 19.4p per share (2022: 17.2p).
The Group’s cash and cash equivalents as at 31 December 2023 increased to £14.8m (2022: £14.2m) demonstrating the Group’s strong cash generation. Over the year the Group purchased £1.2m of treasury shares used to service employee share schemes.
Alasdair Haynes, CEO, Aquis Exchange PLC said:
“I am really pleased to announce that the Aquis Group has continued to deliver a strong performance with double digit revenue and profit growth across all divisions, despite some of the most challenging market and economic conditions we have ever seen, which have continued into the first quarter of 2024.
“This makes it all the more noteworthy that Aquis was able to deliver growth across all its divisions, with significant progress made on a number of strategic initiatives, including an increase in the pan-European market share of our Aquis Markets division, and a significant Technology contract secured with a central bank.
“Aquis has a proven track record of growth since our IPO in 2018, and we’re more excited than ever about the opportunities ahead for all of our divisions: from the global reach of our leading technology to the strength of our market share, and the disproportionate upside for Aquis as the UK and EU head towards a consolidated tape. Supporting this confidence is our strong cash position, which enables us to grow and innovate further in coming years.”
