Equals Group processes a large forex deal for a large corporate
As another marvellous endorsement of
Generating one-off sales of £1.5m in Q4'21, & underlining once again its status as a credible counterparty in such international payment transactions.
CEO Ian Strafford-taylor saying: "It represents the largest single transaction ever completed by the Group and is a clear demonstration of our credibility among large corporates, the quality of our service proposition, and the level of commitment of our people."
Wrt the numbers, I have accordingly upgraded FY21 forecasts (but held 2022 unchanged), underpinning the 100p/share valuation. Plus at 69p, the shares trade on 2.8x 2021 EV/revenues, falling to 2.5x next vs >6x for the broader epayments space (see comments for charts).
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