25th Apr 2025 12:14
(Alliance News) - Amicorp FS (UK) PLC on Friday hailed 2024 as "a year of steady operational and financial progress" as it reported an increase in its top line.
Amicorp FS is a London-based international specialist fund services company.
Pretax profit grew 28% to USD1.1 million in 2024 from USD823,000 in 2023, with this improvement owed to an increase in revenue.
Revenue rose 6.8% to USD15.6 million from USD14.6 million, driven by growth in its Governance & Compliance Services division which rose 25% to USD1.6 million from USD1.3 million.
Growth in the firm's Business Processing Outsourcing Services division also benefitted the top line, rising 8.3% to USD3.9 million from USD3.6 million.
Shares in the firm were untraded at USD1.60 on Friday afternoon in London.
Amicorp FS noted that the asset management industry "continues to evolve" with regulatory complexities, technological shifts and cost pressures.
It said it is well positioned to capitalise on these trends as fund managers seek reliable partners for outsourcing and back-office functions.
It added that 2025 trading has "remained supportive" with Amicorp FS achieving 36 new wins.
Non-Executive Chair Toine Knipping commented: "I am pleased to report a year of steady operational and financial progress for AMIF, as the business continues to expand its geographic footprint and its range of fund administration related services.
"The asset management industry is undergoing a multi-year adjustment towards an environment with better customer protection via the introduction of increased regulation. This tailwind continues to support demand for our business as more and more industry participants look to outsource their fund administration services to an established specialist with a global footprint"
By Olivia Mason-Myhill, Alliance News reporter
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