9th Mar 2023 11:57
Alpha Financial Markets Consulting PLC - London-based asset management consultancy firm - Says it is "delighted" with its continuing strong performance and now expects to report full-year results ending on March 31 to be "significantly" ahead of current market expectations, which it did not specify. Explains that positive trading conditions in the second half of 2022 and ongoing client demand have allowed it to deliver double-digit organic net fee income growth compared to the prior year. Adjusted earnings before interest, tax, depreciation, and amortization have grown as well, it says, with margins remaining consistent.
Chief Executive Euan Fraser says: "We remain mindful of the inflationary backdrop and geopolitical uncertainties and remain positive that the underlying industry trends and our market leading reputation will continue to drive demand globally for our services."
Back in November, Alpha reported pretax profit of GBP14.2 million for the six months ended September 30, up considerably from GBP4.2 million a year prior. Revenue jumped 57% to GBP107.6 million from GBP68.4 million.
Current stock price: 467.50 pence each, up 7.5% on Thursday morning in London
12-month change: up 53%
By Xindi Wei, Alliance News reporter
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