Alfa Financial's share price is flying after its first results since its IPO

 
Lynsey Barber
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Alfa Financial's IPO was one of the biggest this year (Source: Getty)

Alfa Financial's share price is flying after an impressive set of results, the financial software firm's first since going public.

The figures

Revenues for the first half the year rocketed by 57 per cent to £45.1m while pre-tax profits grew 14.8 per cent, hitting £14m.

Shares in the fintech opened more than eight per cent up in early trading.

Why it's interesting

Alfa listed on the London Stock Exchange in June in a rare IPO for a UK tech firm. Its market cap has risen to more than £1bn.

The software company's clients include Barclays and Mercedes and it has added another two to its roster of 31 in the last six months and in addition to demand from existing customers, it forecast "a strong and diverse pipeline of opportunities which underpin the board's confidence into 2018 and beyond".

What Alfa Financial said

"We are proud and delighted to deliver this first interim report following our IPO on the London Stock Exchange in June this year. Our IPO was always about creating a platform to grow our business and in the relatively short period since then we've continued to deliver on our strategic plan, maintaining focus on expanding our customer base and on the ongoing development of Alfa Systems," said chief executive Andrew Denton.

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