Focus on customer leads to strong growth at moneycorp
moneycorp, the UK’s leading foreign exchange provider, has continued its growth trajectory during Q1 2015, with unaudited results showing 26% growth across its business divisions and customer retention at an all-time high.
moneycorp offers international payments services to private and corporate customers; and travel money via its online platform and a strong retail presence across London and the South of England. The firm also has offices in Ireland, France, Spain, and the United States to service demand for international payments in buoyant property and import-export markets. Further expansion into overseas markets is expected during 2015.
Following record investment into its online capability and customer experience during 2014, moneycorp traded £4.3bn in currencies on behalf of its clients during Q1 2015, retaining its place as one of the largest providers of foreign exchange services outside of the high street banks. Q1 2015: highlights
- Gross profit increased by 26% to £28.6m, up from £22.7m in Q1 2014
- Total business EBITDA growth up 8% year on year
- International Payments business revenue of £15.9m, with 49% year on year growth
- Retail business revenue growth of 5% to £12.6m, up from £12.0m in Q1 2014
- Significant growth of online customer base, with numbers up 27% on previous year
Mark Horgan, CEO of moneycorp said:
“Over the last 12 months we have made significant investment in our online platforms to ensure every stage of the customer journey is as easy and straightforward as possible. The result is a significant jump in customer retention and increased revenues across each of our business divisions.
“The wider economic picture has also been a contributing factor in moneycorp’s impressive growth during 2015. Confidence among SMEs is helping to boost interest in both import and export markets, and the strong sterling is encouraging UK investors to take advantage of overseas property opportunities. The result for moneycorp is growing demand from corporate and private clients looking for a specialist FX provider who can offer competitive pricing, expert teams and fast, efficient systems.”