AFM.L Regulatory News (AFM)

7 April 2022

Alpha Financial Markets Consulting plc

('Alpha FMC' or 'Alpha' or the 'Group')

Pre-close trading update

Ahead of expectations

Alpha FMC (AIM: AFM), a leading global provider of specialist consultancy services to the Asset Management, Wealth Management and Insurance industries, announces its pre-close trading update for the financial year ended 31 March 2022.

The Board is delighted with the strong performance of the Group this year and expects to report FY22 Revenue and Adjusted EBITDA significantly ahead of current market expectations.

Group trading has continued to be very positive, with particularly strong client demand across all of its major geographic asset management and insurance consulting geographies, with North America continuing its excellent performance. Increased client demand has delivered strong double-digit organic net fee income growth compared to the prior year. Margins continue to be strong, lifted by higher than target consultant utilisation levels given client demand, alongside an increasing but well controlled variable cost base. The Group has also continued to deliver strong sales wins and grown its opportunity pipeline through the year.

Lionpoint continues to trade strongly, delivering good revenue growth since the acquisition in May and investment in the Lionpoint team continues.

Euan Fraser, Global CEO of Alpha FMC, commented:

"I am delighted with Alpha's fantastic performance this year, with the Group's double digit organic growth being complemented by Lionpoint's ongoing strong progress since acquisition. All our teams deserve a huge thank you for such a tremendous year. 

We enter FY23 with a strong balance sheet and ongoing trading momentum. While we remain positive that the medium-term underlying industry trends will continue to drive ongoing change programme client demand globally for Alpha, we are also mindful of the ongoing inflationary backdrop and geopolitical uncertainties. With a clear strategy focused on long-term high quality growth markets, we look forward to further progress." 

Alpha FMC expects to report its results for the year ended 31 March 2022 on Wednesday, 23 June 2022.

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This announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014.

About Alpha FMC:

Alpha is a leading global consultancy to the Asset Management, Wealth Management and Insurance industries. With over 650 consultants across 15 offices spanning the UK, Europe, North America and APAC, Alpha has the largest dedicated team in the industry. Alpha has provided specialist consulting services to over 650 clients, including 95 per cent of the 20 largest global asset managers by AUM and a range of other buy-side firms.

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