23rd Sep 2021 11:35
finnCap Group PLC - London-based stockbroker - Reports "strong" trading since its first quarter update in July. Says overall revenue trend is currently slightly above previous guidance, which predicted revenue of between GBP40 million and GBP50 million for financial 2022. Notes slightly lower activity for finnCap Capital Markets in its first half, compared to a year before. On the other hand, the company says its finnCap Cavendish business has performed well-ahead of the same period last year, benefiting from a vigorous mergers and acquisitions market. Expects to pay dividend of at least 1.6p per share in its current financial year, if current performance continues.
"Our second quarter has been strong, with significant activity in our equities business and a continuation of the robust [mergers and acquisitions] performance both in private and public markets as we saw towards the end of our last financial year," says Chief Executive Sam Smith.
"Our pipeline remains solid and we are confident that this, combined with our performance to date, underpins our confidence in delivering a result within our full year expected revenue range," the company adds.
Current stock price: 36.62 pence, up 16% on Thursday
Year-to-date change: up 56%
By Scarlett Butler; [email protected]
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