Alpha Financial Markets Consulting Share News (AFM)

(Sharecast News) - Asset, wealth and insurance management consultant Alpha FMC reported a "strong" first half performance in a trading update on Wednesday, adding that it was "confident" in achieving its full-year expectations.

The AIM-traded firm said the momentum and strong pipeline carried into the 2022 financial year had continued through the six months ended 30 September, with positive trading conditions in the period.

It said increased client demand delivered "strong" double-digit organic net fee income growth compared to the first half of the 2021 financial year, with "particularly strong" like-for-like progress in Alpha's North America, and Europe and Asia regions.

"Margins have also been strong, lifted by higher than target consultant utilisation levels, alongside an increasing but well controlled variable cost base," the board said in its statement.

"The group has also successfully delivered strong sales wins and grown its opportunity pipeline through the first half.

"The integration of Lionpoint continues to proceed as planned and the business has performed in line with our expectations, delivering good revenue growth since the acquisition in May."

Alpha FMC said it would report its interim results for the six months ended 30 September on 24 November.

At 1022 BST, shares in Alpha Financial Markets Consulting were up 2.6% at 355p.