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IN BRIEF: Foresight shares up as annual revenue to exceed consensus

13th Apr 2023 11:00

Foresight Group Holdings Ltd - London-based infrastructure and private equity investment manager - Boasts an "exceptional" increase in assets and funds under management in its year ended on March 31. At March 31, assets under management are up 37% to GBP12.2 billion from GBP8.8 billion the year before, while funds under management are up 34% to GBP9.0 billion. Expects annual revenue to be up "significantly", and exceed the market consensus, which it cites as GBP116.6 million, as of January 16. Adds that infrastructure division AuM increases by 50% to GBP9.5 billion in financial 2023, up from GBP6.3 billion the year before.

Executive Chair Bernard Fairman says: "This was an outstanding year for the group, with our diversified and resilient business model achieving exceptional results against a challenging market backdrop... The outlook for the group remains very positive, being ideally positioned to capture the long-term structural growth trends in our key markets."

It will release its annual results on July 4.

Current stock price: 410.68 pence each, up 7.8% on Thursday morning in London

12-month change: up 1.9%

By Xindi Wei, Alliance News reporter

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Copyright 2023 Alliance News Ltd. All Rights Reserved.

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