Source - SMW
FairFX, the low cost multi-currency payments service, reports strong growth and improved margins in the six months to the end of June.

Turnover rose by 10% to £344 million (H1 2015: £312 million) and revenue increased by 26% to £4.6 million (H1 2015: £3.6 million).

 Gross profit was up 30% at  £3.6 million (H1 2015: £2.7 million) and the net loss fell by 57% to £0.9 million (H1 2015: £2.1 million).

Chief executive Ian Strafford-Taylor said: "The first half of the year has been very successful for FairFX, especially given the various macro-economic factors encountered. The twin effects of global political events and the EU referendum campaign have hindered many companies with a travel-related focus but FairFX has continued to grow. At the same time, we have significantly reduced the net loss for the first half, showing a clear path towards achieving profitability in 2017."