1st Jul 2021 16:01
finnCap Group PLC - London-based stockbroker - Reports jump in profit for 2021 financial year and bumps up dividend. Revenue for year ended March 31 surges to GBP46.6 million from GBP26.0 million the year before, with pretax profit jumping to GBP8.4 million from GBP1.2 million. Says delivered "best-ever financial results" in 2021 financial year despite complex operating backdrop. "Strong equity market conditions and the impact of Covid-19 on clients - both positive and negative - created extraordinary demand for our services and pressure for our team to deliver," it says. Total dividend for year 1.5 pence per share, up from 0.80p the year before - and expects to pay out no less than 1.6p for 2022 financial year.
Says new financial year has started well, with revenue ahead year-on-year. "Although it is still early in the year, our pipeline of business is good, including several potential IPOs and M&A deals. Our results will be influenced by the market's continuing receptiveness to new equity issuance and IPOs, however, we currently look set to have another strong performance in FY22 and expect revenue for FY22 to be in the GBP40-GBP50 million range," it says.
Current stock price: 39.00p, down 6.0% on Thursday
Year-to-date change: up 66%
By Lucy Heming;Â [email protected]
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