MJ Hudson trading in line with expectations

(Sharecast News) - International asset management consultancy MJ Hudson updated the market on its trading for the six months ended 31 December on Tuesday, following its admission to AIM on 12 December.
The AIM-traded firm said its financial year ending June had started well, with underlying revenue of £10.4m, which was an increase of 21 % year-on-year.

On an organic basis, underlying revenue growth was 7%.

During the period, the company said it successfully completed the acquisition and integration of Amsterdam-based SARIS, the ESG reporting and consulting business that had since been rebranded MJ Hudson Spring.

The firm said the acquisition of Anglo Saxon Trust was expected to complete within the next two months, subject to and following receipt of applicable regulatory approval by the Jersey Financial Services Commission.

Given that "promising" start, the board said it was confident that trading was in line with its expectations for the full financial year.

"We have had a busy start to the current financial year which culminated in our admission to AIM in December," said chief executive officer Matthew Hudson.

"From a client perspective, we continue to add to our list of material and multi-divisional clients and have made strides in integrating our recent acquisition in the ESG space, MJ Hudson Spring."

At the same time, growth in underlying revenue across the group was developing in line with the board's plans, Hudson said.

"Given that the period under review included both an election and our own IPO, we are encouraged by this performance and we continue to see opportunities for organic and inorganic growth in the second half of the year and beyond."

The group said it intended to report its interim financial results for the six month period to end December on or around 18 March.

At 1113 GMT, shares in MJ Hudson were down 0.85% at 58p.