CAB Payments Holdings PLC

16 January 2024

CAB Payments Holdings plc

("CAB Payments", the "Company" or the "Group")

Pre Close Update

CAB Payments, a market leader in business-to-business cross-border payments and foreign exchange, specialising in hard-to-reach markets, announces that total income⁽ⁱ⁾ for the year ended 31 December 2023 will be approximately 25% above the prior year (2022: £109.4 million).

The Company continues to benefit from the structural shift in its markets from incumbent providers to specialists such as CAB Payments.  The Company has a high quality and growing customer base, made up of G10 government entities, some of the world's best known international development organisations, global remittance companies, emerging markets financial institutions and, increasingly, major market banks.  CAB Payments has laid out a clear strategy to grow its customer base, expand its presence to new markets and broaden its product offering.  To deliver this growth, CAB Payments is continually investing in its technology suite and capabilities, and expanding its already strong network of partners, liquidity providers, and nostro accounts across a range of markets.  The Company continues to believe that successful execution of its strategy will provide material growth opportunities in the coming years and support its robust profit and cash generation.

The Company will provide additional detail on performance in 2023 with its Preliminary Results, scheduled for release on 26 March 2024.

(i)            Total income, net of interest expense (excluding clearing costs)