The e-banking and international payments firm said as a result of “better financial terms” secured with its existing suppliers, it would benefit from “a greater share of revenues” going forward.
READ: FairFX gains “significant endorsement” as it is granted access to Bank of England settlement accounts
FairFX had said in a trading update back in January that it was looking to remove a layer of its supply chain as well as improving margins in its corporate card division.
Ian Strafford-Taylor, chief executive of FairFX, said an “integral part” of the company’s strategy was to enhance its supply chain “both in terms of internalising processes where appropriate to increase share of revenues and securing better commercial terms to reduce our costs”, the benefits of which would “improve further as the business scales”.
“I am delighted with the significant progress we have made in this area in recent weeks and to complete this particular phase of the project ahead of schedule," he added.
Shares were up 2.7% at 94p.
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