Ince Group PLC (The) Trading Update
RNS Number : 2316W
Ince Group PLC (The)
22 April 2021
The Ince Group PLC
("Ince" or the "Group")
Continuing progress despite impact of pandemic
Ince, the London-based international legal and professional
services group, today announces the following update on its full
year performance for the year ended 31 March 2021.
-- Revenue of GBP97m ahead of last year (2020: GBP96.4m(1) )
-- Net debt as at 31 March 2021 of GBP7.1m (2020: GBP6.9m(2) )
-- Available cash and facilities at 31 March 2021 of GBP10.8m (2020: GBP5.3m)
-- Overseas offices continued their organic revenue growth trend.
-- UK revenue recovered from the levels seen in April and May
last year and subsequent like-for-like performance across the
majority of sectors was broadly flat. As restrictions are eased,
confidence and market activity levels are beginning to improve
-- Recently announced two initiatives with market leading
technology suppliers to drive additional revenue.
-- New medium-term financing facility announced on 29 March 2021
provides stable base and flexibility to manage future cash flow
requirements on a Group-wide basis.
-- First of the international offices migrated onto the
proprietary practice management system and work on the migration of
other international offices is underway. This will facilitate
central management, improve real time data reporting and analysis
across the Group and enable a reduction in overheads.
-- The Board will review the payment of a dividend and future
policy with the announcement of results for the year ended 31 March
Adrian Biles, CEO of Ince, said:
"We are very pleased with what has been achieved in the last
year and with the resilience of the business and its operations.
This is due to the hard work and commitment of our people.
"The outlook for the current year is positive as travel and
other restrictions continue to ease. Remote working is long
established at Ince and we expect it to continue to some degree
going forward but we regard the return to the office on a more
regular basis as an important feature of the business.
"Ince remains well set on its growth trajectory."
1. Prior year revenue is presented excluding revenue from
subsequently discontinued operations
2. Net debt is presented excluding a one off in-year operating
cost loans in respect of certain insurances in 2020
The Ince Group plc email@example.com
Adrian Biles, Group Chief Executive
Simon Oakes, Chief Financial
Arden Partners plc
Nominated Advisor and Broker
to the Company
John Llewellyn-Lloyd, Corporate
Dan Gee-Summons, Corporate Finance
Simon Johnson, Equity Sales +44 (0) 20 7614 5900
Williams Nicolson +44 (0) 7767 345 563
Media enquiries firstname.lastname@example.org
About The Ince Group PLC
The Ince Group is a dynamic international legal and professional
services business with offices in nine countries across Europe,
Asia and the Middle East. With over 700 people, including over 100
partners worldwide, The Ince Group delivers legal advice, strategic
guidance and business solutions to clients ranging from the world's
oldest and biggest businesses operating across numerous industries
to ultra-high net worth individuals. Through its entrepreneurial
culture and "one firm" approach, the business offers its clients
over 150 years of experience, insight and relationships. The Group
is driven by a unique team of passionate people whose broad
expertise and deep sector specialisms provide their clients with
solutions to all their complex legal and strategic needs.
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 email@example.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
(END) Dow Jones Newswires
April 22, 2021 02:00 ET (06:00 GMT)