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Alpha Financial expects annual earnings to fall despite better trading

11th Apr 2024 08:48

(Alliance News) - Alpha Financial Markets Consulting PLC on Thursday said trading improved through the fourth quarter of its financial year despite a slower than planned January.

Shares in Alpha Financial were up 6.6% to 332.50 pence each in London on Thursday morning.

For its financial year ended March 31, the Paris-based asset and wealth management and insurance consultancy said it continues to expect to deliver net fee income growth of around 3% against the prior year.

It also expects adjusted earnings before interest, tax, depreciation and amortisation of GBP42 million to GBP43 million, down from GBP46.6 million in financial 2023, but at a slightly improved margin on the first half.

As previously reported, it said the global consulting market has experienced a "more competitive environment" during the current financial year and the supply and demand dynamics continue to rebalance.

Chief Executive Officer Luc Baque said: "As noted last in February, challenging market conditions remain, and the market environment continues to rebalance supply & demand. However, it is encouraging to see some improvement in market conditions and increased sales wins in recent months and going into [financial 2025]".

Alpha Financial will publish its full-year results on June 20.

By Sabrina Penty, Alliance News reporter

Comments and questions to [email protected]

Copyright 2024 Alliance News Ltd. All Rights Reserved.

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