Last checked at 9 Oct 2019 07:00
9 October 2019
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 ended 30 September 2019.
Alpha FMC has performed well in the first half of the financial year. On a like-for-like basis the Group progressed compared to the recent six months ended 31 March 2019. The integration of the Axxsys business, acquired in June, is largely complete and the business is performing to expectations.
The Board is satisfied with the Group's first half performance and anticipates results for the full year in-line with the Board's expectation.
Euan Fraser, Global CEO of Alpha FMC, commented:
"The Group further progressed in the first half. We have continued to invest in our skilled consulting teams and I am pleased to have recruited a number of key Director hires globally since 1 April, which should position Alpha well for growth through the remainder of the financial year and beyond. Our strategic acquisition of Axxsys has landed successfully with the teams collaborating effectively.
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 good and, while we are aware of uncertainty in the global political and economic environment we continue to monitor our clients' responses closely, we look forward to further progress in the second half."
Alpha FMC expects to report its half-year results to 30 September 2019 on 20 November 2019.
A results presentation from Alpha will take place at 11 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 Seamus Fricker | |
Berenberg (Broker) | +44 (0)20 3207 7800 |
Chris Bowman Toby Flaux Alix Mecklenburg-Solodkoff |
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.
With over 360 consultants across ten offices spanning the UK, Europe, the US and Asia, Alpha FMC has the largest dedicated team in the industry. Alpha FMC has provided consultancy services to over 275 clients, including 80% of the 20 largest global asset managers by AUM and a range of other buy-side firms.
ENDS