6th Feb 2018 07:00
6 February 2018
Sanne Group plc
("SANNE" or "the Group")
Trading update and notice of results
SANNE, the global provider of alternative asset and corporate administration services, today provides a trading update following the Group's financial year end on 31 December 2017.
Following the half year report on 7 September 2017, the Group has enjoyed continued momentum through the second half of the year and has seen steady progress made on the integration of each of its acquired businesses. SANNE has though seen some adverse impact from FX translation given its increased exposure to US dollar earnings following the acquisitions of FLSV Fund Administration Services LLC in the US and the IFS Group in Mauritius.
Aligned to the latest guidance from the Financial Reporting Council, the Group also takes this opportunity to amend the accounting presentation of share based payments. As a result, shared based payments relating to the Group's Performance Share Plan and Annual Bonus Plan will be included in underlying earnings going forward. This amounted to non-cash amounts of circa £0.7m and £1.6m in each of the years ended 31 December 2016 and 2017 respectively. This is a presentational change only.
Despite the adverse impact from FX translation in the period, the continued momentum in the second half means the Group still expects to report underlying earnings per share in line with the Board's expectations.
The Group will announce its full year results for the year to 31 December 2017 on 22 March 2018.
Enquiries:
Sanne Group plc Dean Godwin, Chief Executive Officer Spencer Daley, Chief Financial Officer
| +44 (0) 1534 722 787 |
Investec Bank plc Garry Levin / James Ireland Edward Thomas / Neil Coleman
| +44 (0) 20 7597 5970 |
Tulchan Communications LLP Tom Murray David Ison
| +44 (0) 20 7353 4200
|
Notes - About SANNE
SANNE is a leading global provider of alternative asset and corporate administration services. Established for over 25 years and listed as a FTSE 250 company on the Main Market of the London Stock Exchange, SANNE employs more than 1,200 people worldwide and administers structures and funds that have in excess of £200 billion of assets.
Key clients include alternative asset managers, global financial institutions, family offices, UHNWIs and corporates.
SANNE has a global network of regulated businesses in 15 leading financial jurisdictions, which are spread globally across the Americas, Europe, Africa and Asia-Pacific.
sannegroup.com
Related Shares:
SNN.L