finnCap Group PLC FY21 Trading Update (0684R)
March 03 2021 - 7:55AM
UK Regulatory
TIDMFCAP
RNS Number : 0684R
finnCap Group PLC
03 March 2021
For immediate release
3 March 2021
finnCap Group PLC
FY21 Trading Update
The Board of finnCap Group PLC ("finnCap" or the "Company" or
the "Group"), a leading provider of strategic advisory and capital
raising services to growth companies, is pleased to give the
following update on the Group's trading for the current financial
year ending 31 March 2021.
Following a robust financial and operational performance in H1,
the Group has traded materially ahead of our expectations in H2.
The capital markets business recorded its highest level of
quarterly deal fees in Q3 and continued to enjoy good growth in
year-on-year sales and trading revenue. After a quiet Q3, the
M&A team in Cavendish has delivered a strong performance to
date in Q4 with the successful closure of a number of deals before
the announcement of the UK Budget.
As a result, the Board now expects total income for the current
financial year to be in excess of GBP43m, approximately 65% up on
FY20, and that the Group's profits and year-end cash balance will
accordingly be well ahead of the Board's expectations at the time
of the announcement of the interim results to 30 September
2020.
Sam Smith, CEO commented:
"After a strong performance in H1, it has been great to see the
whole business continue to deliver for our clients and
stakeholders. In line with our strategy, we have continued to
invest in the business in H2 with further hires into deal
origination and into our ECM business, in particular into sales and
trading, which has already been a key contributor to our
performance this year. Our pipeline remains good, with deals still
too close for FY21 and I look forward to announcing our results in
July."
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU No. 596/2014) which is part of UK law by virtue of
the European Union (withdrawal) Act 2018. Upon the publication of
this announcement, this inside information is now considered to be
in the public domain.
Contacts:
finnCap Group plc Tel: +44 (0) 20 7220 0500
Sam Smith, Chief Executive Officer
investor.relations@finncap.com
Richard Snow, Chief Financial Officer
Grant Thornton (Nominated Adviser) Tel: +44 (0) 20 7383 5100
Philip Secrett/Samantha Harrison/Seamus Fricker
Oberon Capital (Joint Broker) Tel: +44 (0) 20 3179 5344
Mike Seabrook
finnCap Ltd ( Joint Broker) Tel: +44 (0) 20 7220 0500
Rhys Williams/Tim Redfern
Sapience Communications (PR Adviser) Tel: +44 (0) 20 3195
3240
Richard Morgan Evans
finnCap provides financial services to growth companies both
public and private. It provides advisory, broking and research
services to companies on AIM and on the London Stock Exchange Main
Market and also advises on M&A, with a specialism in sell-side
M&A through Cavendish, as well as arranging corporate debt and
private company fundraisings. finnCap also provides trading
services to a broad range of institutional investors.
END
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