Payments service FairFX (LON:FFX) reported turnover of over £1 billion in the half year to June, saying it was confident it would meet full year expectations.

The group had already been boosted by an 146.2 percent year on year increase in turnover to £1.1 billion in the first half, and, excluding the acquisitions of Cardone and City Forex, turnover rose 22.8 percent.

Like-for-like turnover from prepaid cards and international payments, one of its most well-known services, rose 8.5 percent to £181.7 million and 39.1 percent to £334.6 million, respectively.

“The performance of FairFX during the first half of 2018 demonstrates the execution of the Company’s strategy to scale its core FX services whilst evolving the digital banking offering. The substantial growth in turnover has also been achieved without reduced margins and this gives us great confidence for the prospects for 2018 and beyond,” said FairFX CEO, Ian Strafford-Taylor.

Shares in FairFX are currently up 13.16 percent at 129.00 (0913GMT).