|
Alpha Financial Markets Consulting PLC on Tuesday reported ‘resilient’ trading in its first half year, adding that it has a strong pipeline and that market sentiment is becoming more positive. The Paris-based asset and wealth management and insurance consultancy said trading was resilient during the six months ended September 30, with net fee income growing by approximately 8% and utilisation increasing in September after ‘quieter summer months.’ The adjusted earnings before interest, tax, depreciation and amortisation margin was ‘just over’ 17%, lower than previous years, thanks to reduced average utilisation partly due to the summer downturn. ‘The group continues to make good progress in North America, particularly in its alternative investments consulting business, Lionpoint, which continues to trade strongly,’ Alpha said. Alpha Financial also said it ‘maintains a strong net cash position.’ Looking ahead, Alpha expects utilisation to continue increasing during the current half year and normalise to target levels. It also anticipates full-year results in line with market expectations. ‘The group continues to see robust client demand and enters the second half with a good pipeline of new business opportunities,’ Alpha Financial continued. ‘These factors, together with the strong long-term structural growth drivers that underpin demand for Alpha’s services and the group’s compelling proposition to clients, gives us confidence in the outlook.’ Alpha Financial shares were up 3.3% at 317.50 pence in London on Tuesday. Copyright 2023 Alliance News Ltd. All Rights Reserved.
|
