Sanne profits and revenue rise as EMEA, US perform strongly

(Sharecast News) - Sanne, a provider of alternative asset and corporate services, posted a rise in full-year profit and revenue on Friday thanks to strong performances from its core businesses, particularly in EMEA and the US.In the year to the end of December 2018, underlying pre-tax profit pushed up 11.8% to £42.6m on revenue of £143m, up 26.4% from 2017. This was driven by strong new business wins and growth in the company's alternatives and corporate businesses, which more than offset headwinds in the hedge and private client segments.The EMEA and North America alternatives segments delivered organic growth of 16.3% and 16.1% respectively, while the Asia-Pacific and Mauritius business saw organic growth of 12.2%.Sanne recommended a final dividend of 9.2p a share compared to 8.4p a year earlier, taking the total dividend for the year to 13.8p, up from 12.6p.Chief executive officer Dean Goodwin said: "2018 was a significant year of growth and evolution for Sanne. Our core businesses continued to perform strongly, particularly in EMEA and the US, and we are encouraged to see the momentum building in Asia-Pacific Mauritius. Importantly, Sanne is now a business with a truly global platform and with a growing presence in the world's most attractive regions."Sanne said good momentum in the alternatives and corporate businesses - which account for 86% of group revenues - positions it well for further growth in 2019, along with a strong market backdrop. The group expects to see an improvement in underlying operating profit margin this year and said it remains confident in its medium and long-term prospects.