Alpha Fin Markets Consulting plc Pre-close trading update (4803P)
10 Octobre 2023 - 8:00AM
UK Regulatory
TIDMAFM
RNS Number : 4803P
Alpha Fin Markets Consulting plc
10 October 2023
10 October 2023
Alpha Financial Markets Consulting plc
('Alpha FMC' or 'Alpha' or the 'Group')
Pre-close trading update
Alpha FMC (AIM: AFM), a leading global provider of specialist
consultancy services to the Asset Management, Wealth Management and
Insurance industries, announces its scheduled pre-close trading
update for the six months ended 30 September 2023.
As outlined in the Group's full year results announcement in
June, the global consulting market has experienced a more
competitive environment with a longer sales cycle in the first half
of the financial year. Against this backdrop, the Group's trading
in the first half has been resilient, with c. 8% growth in net fee
income compared to the first half of the prior year, alongside
consistent consultant day rates and sales wins monthly through the
half. First half adjusted EBITDA margin was just over 17%, lower
than prior years as a result of reduced average utilisation, partly
reflecting quieter summer months. Utilisation has ticked up in
September from the summer low and is expected to increase further
during the second half, normalising to target levels.
The Group continues to make good progress in North America,
particularly in its alternative investments consulting business,
Lionpoint, which continues to trade strongly. The Group's current
selective approach to hiring continues, with costs remaining well
controlled. The Group maintains a strong net cash position.
While the global consulting market continues to balance supply
and demand, a more positive market sentiment is returning following
the summer months. The Group continues to see robust client demand
and enters the second half with a good pipeline of new business
opportunities. These factors, together with the strong long-term
structural growth drivers that underpin demand for Alpha's services
and the Group's compelling proposition to clients, gives us
confidence in the outlook. Accordingly, the Board expects to
deliver full year results in line with current market
expectations.
Alpha FMC expects to report its interim results for the six
months ended 30 September 2023 on Thursday, 23 November 2023.
Enquiries:
Alpha Financial Markets Consulting plc
Luc Baqué (Chief Executive Officer)
John Paton (Chief Financial Officer) +44 (0)20 7796
Georgina Sharley (Company Secretary) 9300
Investec Bank plc - Nominated Adviser, Joint
Corporate Broker
Patrick Robb
James Rudd +44 (0)20 7597
Harry Hargreaves 4000
Berenberg - Joint Corporate Broker
Toby Flaux
James Thompson +44 (0)20 3207
Alix Mecklenburg-Solodkoff 7800
Camarco - Financial PR +44 (0)20 3757
Ed Gascoigne-Pees 4980
Phoebe Pugh
This announcement contains inside information as defined in
Article 7 of the Market Abuse Regulation No. 596/2014.
About Alpha FMC:
Headquartered in the UK and quoted on the AIM of the London
Stock Exchange, Alpha is a leading global provider of specialist
consultancy services to the asset management, wealth management and
insurance industries.
It has the largest dedicated team in those industries, with
approximately 1,000 consultants globally, operating from 17
client-facing offices spanning the UK, North America, Europe and
APAC. Alpha has worked with all of the world's top 20 and 80% of
the world's top 50 asset managers b y AUM, along with a wide range
of insurance and other buy-side firms.
- ENDS -
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END
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