Equals celebrates revenue surge amid sound B2B performance

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Equals Group PLC on Wednesday said that revenue was substantially higher in the first half, ahead of its half-year results to be released in September.

The London-based payment platform developer said revenue jumped 33% in the first half of 2024 to £60.0 million from £45.0 million a year prior.

Equals highlighted that revenue in the Solutions product line surged 91% year-on-year to £13.5 million in the second quarter of 2024, from £7.1 million.

Revenue in the Payments product line, meanwhile, jumped 35% to £7.4 million from £5.5 million.

However, it noted that overall foreign exchange revenue from business-to-customers trading is subdued due to macro-economic conditions, while business-to-business or B2B revenue is more robust.

Equals shares fell 3.0% to 116.37 pence each on Wednesday afternoon in London.

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