LONDON: CAB Payments Holdings plc (CABP.L), a specialist in B2B foreign exchange and cross-border payments for hard-to-reach markets, reported modest growth and strategic progress in its interim results for the six months ended June 30, 2025, as the Group continues its transformation journey.
Total income rose 3% to £51.8 million compared to H2 2024, driven by increased client activity and diversification across FX spreads, fees, and interest income. Adjusted EBITDA climbed 8% to £13.1 million, while Adjusted Profit After Tax grew 9% to £5.4 million.
CEO Neeraj Kapur said the Group is “better positioned to drive diversified and sustainable revenue growth,” citing new client wins, expanded network connectivity, and regulatory milestones including a New York sales licence and IMTO approval in Nigeria.
Active clients increased to 573, with 52 onboarded during the period. FX volumes rose 2% HoH to £19.9 billion, supported by a 5% rise in developed market volumes. Banking income grew 6% HoH to £20.4 million, reflecting higher client deposits and trade finance activity.
Operating expenses remained flat HoH at £38.7 million following a strategic restructuring that reduced headcount by approximately 100 FTE. The Group maintained strong capital and liquidity metrics, with a CET1 ratio of 19.5% and NSFR of 134.4%.
CAB Payments expects further half-on-half growth in H2 2025 and maintains its outlook for full-year income growth, supported by product inn