Last checked at 11 Oct 2018 07:00
11 October 2018
Alpha Financial Markets Consulting plc
('Alpha FMC' or the 'Company' or 'Group')
Pre-close trading update
Alpha FMC (AIM: AFM), a leading global provider of specialist consultancy services to the Asset and Wealth Management industry, is pleased to provide its pre-close trading update before reporting its half yearly results for the six months ending 30 September 2018.
Alpha FMC has continued to perform well in the first half of the financial year with both revenue and Adjusted EBITDA expected to be considerably ahead of the comparative period last year, with each of the UK, US and Europe & Asia geographic regions progressing well. The Group has continued to attract talent and grow its consulting teams globally with its total fee generating consultant headcount (including contractors) up 28 per cent to c. 350 in the 12 months to 30 September 2018. Consultant utilisation levels are broadly in-line with the comparable prior year first half period. Operational cash generation has improved maintaining the Group's robust balance sheet.
The Board is pleased with performance to-date and remains comfortable with the current full year market expectations.
Euan Fraser, Global CEO of Alpha FMC, commented:
"We are pleased with the Group's continued progress in the first half. We have continued to invest in and grow our skilled consulting teams globally and recently launched Alpha's eleventh practice, FinTech & Innovation, where we believe there is exciting potential.
The underlying industry trends of cost reduction, increasing regulation and increasing assets under management remain firmly in place, driving ongoing change programmes globally. Alpha FMC offers a compelling, quality-driven range of consulting services and continues to be well placed to advise and best assist our clients' needs. Our pipeline remains robust and while we have not observed a 'Brexit effect' on client demand we continue to monitor the situation and clients' responses closely."
Alpha FMC expects to report its half-year results to 30 September 2018 on 21 November 2018.
A results presentation from Alpha will take place at 9.30 a.m. on the day at Berenberg's offices, 60 Threadneedle Street. Those wishing to attend should email alpha@templebaradvisory.com. A copy of the presentation slides will be available on the company website for those unable to attend.
The half year results will be available at http://investors.alphafmc.com/reports-and-presentations on the day.
Enquiries:
Alpha Financial Markets Consulting plc | +44 (0)20 7796 9300 |
Euan Fraser, Global Chief Executive Officer John Paton, Chief Financial Officer | |
Temple Bar Advisory | |
Alex Child-Villiers | +44 (0)7795 425 580 |
William Barker | +44 (0)7827 960 151 |
Sam Livingstone | +44 (0)7769 655 437 |
Grant Thornton UK LLP (Nominated Adviser) | +44 (0)20 7383 5100 |
Philip Secrett Richard Tonthat Harrison Clarke | |
Berenberg (Broker) | +44 (0)20 3207 7800 |
Chris Bowman Toby Flaux Laure Fine |
This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014.
About Alpha FMC:
Alpha FMC is a leading global provider of specialist consultancy services to the asset and wealth management industry. Alpha FMC has worked with 85% of the world's top 20 asset managers by AUM, along with a wide range of other buy-side firms. It has the largest dedicated team in the industry, with c. 350 consultants and contractors globally, operating from nine offices spanning the UK, Europe, the US and Asia.
ENDS