StockMarketWire.com - Payments group Equals said annual turnover increased nearly a quarter on better-than-expected performance in the second half. For the full year 2019, turnover increased 23% to £2.91bn on-year and revenue was up about 20%, the company said. Adjusted earnings (EBITDA ) was expected to be 30% higher than 2018. 'These results have been achieved against a backdrop of challenging market conditions, caused by political and economic uncertainties which resulted in record-low currency volatilities,' the company said. Acquisitions completed during the year had performed in-line with management expectations and had been fully integrated, yet there were further costs to be removed through efficiency gains during 2020, Equals said. 'A more encouraging political and economic backdrop combined with a strong pipeline of further product enhancement reinforces the group's positive outlook for 2020, and trading for January to date has been encouraging,' it added.

At 9:28am: [LON:EQLS] share price was -8.9p at 68.5p



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