Foreign exchange company OFX reported a fall in turnover over the September half-year, as customers in some segments of the business felt the pressure of weaker business conditions. Corporate transaction values and revenue in North America were down. Consumer transaction values and revenue were down from the previous corresponding period but up half-on-half. The online seller segment was hit hard. Active client numbers fell 5 per cent to 145,000, compared with the previous corresponding period, and the average transaction value fell 7.3 per cent to A$27,300. Turnover of $19.2 billion was down 3.5 per cent. OFX reported a 3.3 per cent increase in revenue to $114.6 million, compared with the previous corresponding period. Half-on-half, revenue was up just 44 basis points. Operating expenses of $83.3 million were up 14.2 per cent year-on-year and up 5.9 per cent half-on-half. The company said it focused on limiting the growth in employee expenses (which accounted for $58.4 million of the total) during the half. Net profit of $15.8 million was up 5.3 per cent over the previous corresponding period but down 3.7 per cent from March half earnings of $16.4 million. The company’s preferred measure of earnings, underlying EBITDA of $31.8 million, was down 1.5 per cent year-on-year but up 5.6 per cent half-on-half. The company said that despite the mixed bag of results, its outlook is positive. Active corporate client numbers were up, with corporate registrations growing 41.9 per cent half-on-half to 7,900. And the company signed up two new enterprise partners in North America.