Pre-close Update
22 Novembre 2006 - 8:01AM
UK Regulatory
RNS Number:4590M
Sumus plc
22 November 2006
22nd November 2006
Sumus Plc
Pre-close statement
and date of preliminary results announcement
The Directors of Sumus Plc ('Sumus' or 'the Company'), the AIM listed holding
company for IFA businesses providing investment and financial advisory services
and network support services to IFA firms, are pleased to issue the following
update ahead of the Company's preliminary results for the year ended 30th
September 2006, which are expected to be released on Tuesday 23rd January 2007.
Sumus made good progress in the second half of the year, including the
strategically important acquisition of the Scotland-based IFA network Financial
Services Advice and Support Limited ('FSAS') in September 2006. The full effect
of this acquisition, which is immediately earnings enhancing, will be felt in
the current financial year ending 30th September 2007.
The Directors expect profits before tax for the year ended 30th September 2006
to be in line with market expectations. A final dividend will be recommended in
line with the Company's stated policy of being approximately three times
covered.
Since the year end, Sumus has experienced broadly similar trading conditions as
in the second half of the 2006 financial year, with the addition of revenues
generated by FSAS. Further information on current trading and future
developments will be set out in the preliminary results statement.
-Ends-
Contact
Allan Rosengren 0117 9330777
CEO - Sumus Plc 07973 511941
Peter Smith 0117 9330777
FD - Sumus Plc 07713 885286
Tom Cooper / Paul Vann 0117 9200092
Winningtons Financial
Note to Editors
Sumus, admitted to AIM in February 2005, is the group holding company of Falcon
Group Plc, a long established and consistently profitable IFA group, also of
Financial Synergies Plc which was established in August 2004 and Financial
Services Advisory and Support Limited which was acquired in September 2006.
Falcon was founded in 1983 by Allan Rosengren and Julian Telling, respectively
the Group Chief Executive and Group Operations Director of Sumus.
Sumus is a consolidator in the IFA sector, both by way of the organic expansion
of its operating businesses and through carefully selected investments in IFA
firms, which then become authorised through either Falcon Group or FSAS. Sumus
provides strategic direction, working capital, compliance and risk management
resources to its operating businesses.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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