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.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

TSTDKOBKOBKDAQK

(END) Dow Jones Newswires

April 08, 2021 02:00 ET (06:00 GMT)

Alpha Financial Markets ... (LSE:AFM)
Historical Stock Chart
From Oct 2021 to Nov 2021 Click Here for more Alpha Financial Markets ... Charts.
Alpha Financial Markets ... (LSE:AFM)
Historical Stock Chart
From Nov 2020 to Nov 2021 Click Here for more Alpha Financial Markets ... Charts.