Foreign exchange and payment services revenue was the key contributor. Spot and forward transactions accounted for 92% of revenue and 8% respectively. In comparison, spot brought in 89% during the prior year and forwards – 11%.
In 2022, Groupe Agricole expanded its payment capability and the number of currency pairs increased from 42 up to 58. These transactions involve 86% Sterling, Euros and US dollars, as opposed to 91% in the year 2021.
The company noted that the robust momentum in trading observed in 2022 carried into this year. The company has also gained momentum in the first quarter of 2023, outperforming expectations and leading a strong revenue performance. The firm reported that it had achieved its first quarter being EBITDA-positive on an adjusted basis. This was previously reported as well as on an unaudited base.
Hickman added
As a result, we are optimistic about the future as we continue to expand our partnership network and offer. We remain optimistic about the future as a result of this, and we look forward to…
