14th Jan 2020 11:45
(Alliance News) - MJ Hudson Group PLC said Tuesday it expects to report strong growth in its first half revenue.
The asset management consultancy firm said its financial year to June 2020 started well, and it expects underlying revenue to be GBP10.4 million in the first six months of the financial year - which represents a 21% jump on the year before.
On an organic basis, underlying revenue growth was 7% in the six months to the end of December.
"Given this promising start, the board is confident that trading is in-line with management expectations for the full financial year to June 2020," MJ Hudson said.
During the period, the company completed the acquisition and integration of Amsterdam-based SARIS, the environmental, social & corporate governance reporting and consulting business, which has since rebranded MJ Hudson Spring.
MJ Hudson also expects to complete the acquisition of Anglo Saxon Trust within the next two months.
Chief Executive Matthew Hudson said: "We have had a busy start to the current financial year which culminated in our admission to AIM in December. From a client perspective, we continue to add to our list of material and multi-divisional clients and have made strides in integrating our recent acquisition in the ESG space, MJ Hudson Spring."
He continued: "At the same time, growth in underlying revenue across the group is developing in line with our plans. Given that the period under review included both an election and our own IPO, we are encouraged by this performance and we continue to see opportunities for organic and inorganic growth in the second half of the year and beyond."
MJ Hudson is scheduled to report its interim results on or about March 18.
Shares in MJ Hudson Group were down 0.9% at 58.00 pence each in London on Tuesday morning.
By Paul McGowan; [email protected]
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