Aquis Exchange PLC (LON:AQX) today announced its audited results for the year ended 31 December 2023.
During 2023, net income increased by 13% to £22.7m.
The Group generated pre-tax profits for the year of £5.2m compared to £4.5m the previous year. Continued earnings growth in 2023 is primarily attributable to increased transaction revenue through the growing success of AMP and increased member subscription revenue as a result of increased transaction levels, along with increased revenue from data, technology licensing and publisher fees.
Pre-tax profits rose 15% to £5.2m (2022: £4.5m) and EPS increased to 19.4p per share (2022: 17.2p).
The Group’s cash and cash equivalents at 31 December 2023 increased to £14.8m (2022: £14.2m) demonstrating the Group’s strong cash generation. During the year the Group purchased £1.2 million of treasury shares which are used to service employee share schemes.
Alasdair Haynes, CEO of Aquis Exchange PLC said:
“I am really pleased to announce that the Aquis Group has continued to deliver strong performance with double-digit revenue and profit growth across all divisions, despite the most challenging market and economic conditions we have ever seen, which continued into the first quarter of 2024 .
“This makes it all the more remarkable that Aquis has been able to achieve growth across all of its divisions, with significant progress on a number of strategic initiatives, including increasing the pan-European market share of our Aquis Markets division and a major Secured Technology Contract with central bank.
“Aquis has a proven track record of growth since our IPO in 2018, and we are more excited than ever about the opportunities that exist for all of our divisions: from the global reach of our leading technology to our market share strength and disproportionate upside course for Aquis as the UK and EU move towards a unified film. Underpinning this confidence is our strong cash position, which enables us to grow and innovate further in the coming years.”