Alpha Fin Markets Consulting plc Pre-close trading update (7445U)
April 08 2021 - 1:00AM
UK Regulatory
TIDMAFM
RNS Number : 7445U
Alpha Fin Markets Consulting plc
08 April 2021
8 April 2021
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, is pleased to provide its pre-close trading
update before reporting its results for the year ended 31 March
2021.
The Board is delighted with the performance of the Group through
the COVID-19 pandemic. Following a resilient first half, trading
has continued to firm in the second half and the Group expects to
report Adjusted EBITDA for the full financial year toward the
upper-end of the range of current market expectations.
Alpha's consulting teams continue to deliver high-quality client
service whilst remote working. The Group continues to make good
progress, to enjoy a healthy new business pipeline and to deliver
good levels of new business wins across its geographies.
The Group has also maintained its strong balance sheet, with
strong cash collection continuing this financial year. The Group
ended the year with approximately GBP34m of cash balances and its
GBP20m RCF remains undrawn.
Euan Fraser, Global CEO of Alpha FMC, commented:
"I am delighted with Alpha's robust performance this year,
achieved despite the challenges created by the COVID-19 pandemic.
The strength of Alpha's quality-led consulting model and its
outstanding people are best demonstrated by Alpha's further
progress this year. Our entire team deserves a huge thank you for
adapting and managing so well in these exceptional times,
continuing to support our clients successfully to the highest
standards, while generating good new business wins through the
year.
Whilst the COVID-19 situation is ongoing, the financial year
ends with strong trading across our markets and with a good new
business pipeline. We remain positive that the medium-term
underlying industry trends of cost reduction, increasing regulation
and growth in assets under management, will continue to drive
ongoing change programmes globally for which Alpha's expanding
range of quality consulting services is well placed to advise and
best assist our clients' needs. With a clear strategy focused on
long-term high quality growth markets the Group is well positioned
to make further progress."
Alpha FMC expects to report its results for the year ended 31
March 2021 on Thursday, 24 June 2021.
Enquiries:
Alpha Financial Markets Consulting plc +44 (0)20 7796 9300
Euan Fraser, Global Chief Executive Officer
John Paton, Chief Financial Officer
Investec Bank plc (Nominated Adviser and
Joint Broker) +44 (0)20 7597 4000
Patrick Robb
James Rudd
Will Fenby
Berenberg (Joint Broker) +44 (0)20 3207 7800
Chris Bowman
Toby Flaux
Alix Mecklenburg-Solodkoff
Temple Bar Advisory (Public Relations)
Alex Child-Villiers +44 (0)7795 425 580
William Barker +44 (0)7827 960 151
Sam Livingstone +44 (0)7769 655 437
About Alpha FMC:
Alpha FMC is a leading global provider of specialist consultancy
services to the asset and wealth management industry. With over 430
consultants across twelve offices spanning the UK, Europe, North
America and Asia, Alpha FMC has the largest dedicated team in the
industry. Alpha FMC has provided consultancy services to over 400
clients, including 85% of the 20 largest global asset managers by
AUM and a range of other buy-side firms.
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