Operating profits at Fexco increased by almost 10m [Video]

Operating profits at Irish financial services and technology company Fexco Group rose by almost €10m in 2023.

The Kerry-based company released their results for last year which showed the group record an overall operating profit of €24m, significantly up from the €14.8m reported in 2022.

Income at the Group increased from €156.1m in 2022 to €178.7m, a rise of 14% year on year.

This growth was, say the company, fuelled by ongoing investments in innovation.

In particular, Fexco’s Payments and FX division experienced strong transaction volumes worldwide.

The company said investment in the APAC, MEASA, and LATAM markets continues to generate strong results for the Group.

Overall, Fexco’s DCC business now serves 5 million merchant locations across more than 50 countries, catering to diverse industries such as hospitality, retail, and airlines.

Other divisions of Fexco also saw significant growth.

Fexco’s Business Services Division expanded both organically and through acquisitions.

Its Managed & Advisory Services business experienced strong organic growth in the market, having secured several new customer …