MONEX Financial Services Ltd, the leading privately owned company specialising in Dynamic Currency Conversion (DCC) presents the Directors Report and Financial Statements for year ended 31 December 2014.
- DCC processing service throughput increased to €28 Billion up 33.3% (2013: €21 Billion
- Profit before tax €7,658,023 (2013: €3,290,995)
- Geographic expansion achieved - Monex DCC available in 46 Countries
- 163million processed transactions - 28% volume increase (2013: 128million)
The board announces that gross generated income continued to increase during 2014 with revenue rising by 14.21% from €84,650,692 in 2013 to €96,680,898 in 2014. The value of processed transactions has increased by 33.3% from €21Billion in 2013 to €28Billion in 2014. The company generated a profit on ordinary activities before taxation in 2014 amounting to €7,658,023 compared to €3,290,995 the previous year. The growing investment in the Company’s infrastructure, employees and consultant services resulted in ongoing service benefits.
As Monex continues to extend its global reach, income attributable to markets outside Ireland rose in the year 2014. The ATM sector has proved a particularly productive segment for Monex who are fast becoming the go-to global DCC provider for processors and acquirers. Monex DCC services operate on ATM cash dispensers in Europe and the Americas on networks totalling more than 68,000 ATMs.
Although Monex is renowned globally as the premier DCC provider, the company also delivers a comprehensive range of financial business solutions including multi-currency pricing, comprehensive transaction switching, hosted processing services and a self-serve merchant portal allowing 24/7access to transaction detail. Monex’ wide ranging solution portfolio enables clients to revolutionize international currency transaction procedures, secure new business revenue, which can lead to increased bottom line profits.
In preparation for the publication of the 2014 figures, DCC innovator Frank Murphy, Director and CEO, comments “We’re very pleased with our performance in 2014 and excited with prospects in the 2015 pipeline. The investment in our team and continually enhanced IT infrastructure continues to reap rewards for our clients with improved financial performance. The team’s tenacity for work and commitment maintains our strong performance and enables the Company’s continuous development.”