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Pin to quick picksThe Simplybiz Group Plc Share News (SBIZ)

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IN BRIEF: SimplyBiz Interim Profit Grows On Resilient Trading

Tue, 15th Sep 2020 16:08

SimplyBiz Group PLC - business services provider to financial advisers - Interim pretax profit up to GBP4.4 million from GBP2.7 million year before. Revenue in six months to June 30 down to GBP28.9 million from GBP29.1 million. Maintains full-year guidance of adjusted EPS of "no less" than 11.0 pence. Interim adjusted EPS 4.22p. Not proposing interim dividend, will review shareholder distribution policy in January.

Joint Chief Executive Matt Timmins: "We are delighted to report strong and resilient trading for the first half, demonstrating the robust nature of our business. We benefitted from an improving quality of our underlying earnings, under-pinned by six full months trading from Defaqto which helped offset a significant reduction in valuation income during the period.

"The quality of our revenues, the resilience of our customers, and the benefits of a stronger digital delivery platform have enabled strong trading during challenging times. We have responded quickly and decisively to deliver growth in key strategic areas, whilst improving the quality of our underlying earnings."

Current stock price: 156.24 pence

Year-to-date change: down 36%

By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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