StockMarketWire.com - Fintech payments group Equals reported a jump in annual revenue, driven by strong performance in the fourth-quarter of the year.

Revenue for 2021 increased 52% to £44.1 million year-on-year, driven by a 96% jump in fourth quarter revenue.

Revenue from the solutions product stream generated £3.5 million since its introduction in May 2021, demonstrating 'the revenue potential of the investments made in technology and product in FY-19 and FY-20,' the company said.

'Overall earnings in FY-21 are in line with management expectations,' it added.

Early trading in fiscal 2022 had continued the strong trend despite the cost inflationary pressures.

Looking ahead, the company said it would continue to invest between 20% and 25% of its headcount costs into further technology and product developments for fiscal 2022, but expected this to drop below 20% in FY23 as the core capabilities are delivered.


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