finnCap Group PLC Trading Update (0619P)
October 08 2019 - 2:00AM
UK Regulatory
TIDMFCAP
RNS Number : 0619P
finnCap Group PLC
08 October 2019
finnCap Group plc ("finnCap")
Trading Update
finnCap Group plc ("finnCap"), the financial services group
focussed on growth companies, today issues a trading update in
respect of the 6 month period ended 30 September 2019.
The board of finnCap ("the Board") is pleased to announce that
it expects to report revenues for the six months ended 30 September
2019 of approximately GBP14.2m (5 months ended 30 September 2018:
GBP9.1m), and pre-tax profits of not less than GBP1.3m (5 months
ended 30 September 2018: GBP1.4m). The political backdrop and
challenging market conditions have been widely detailed and in
light of these, the Board considers this to be a good performance
that leaves the Group well positioned to meet its full year
expectations.
The Board is pleased with the growing evidence that the
combination of the businesses and international reach through
Oaklins is providing additional opportunities to the combined
Group. Specific further evidence of this includes a mandate
introduced to finnCap from the Australian member firm of Oaklins, a
new mandate to source debt for a quoted plc that is not an existing
client of finnCap, sell side opportunities for Cavendish Corporate
Finance from existing clients of finnCap, and for the Group from a
number of dual track sales/IPOs.
Other highlights include:
-- Won 12 new retained corporate clients, with 127 retained clients at the date of this statement
-- Completed 8 sale mandates, for a variety of owner-managed
businesses and subsidiaries of public companies.
-- Signed up 17 new sell side mandates
-- Executed or are mandated on 8 plc bid or advisory mandates
for clients outside of our retained client base
Sam Smith, Chief Executive Officer, said:
Given the difficult market backdrop, I am pleased with our
strong overall performance and am excited about our continuing
evolution to a professional services group for growth companies.
Despite the challenging market conditions, we have signed up 12 new
retained corporate clients and 17 new sell side mandates in the
first half and have a strong pipeline for the second half. The
Group is focused on maintaining a strong financial performance and
continuing to expand its range of services to successful and
growing businesses.
Contacts
finnCap Group plc Tel: +44 (0) 20 7220 0500
Sam Smith, Chief Executive Officer
investor.relations@finncap.com
Tom Hayward, Chief Financial Officer
Grant Thornton (Nominated Adviser) Tel: +44 (0) 20 7383 5100
Philip Secrett/Samantha Harrison/Seamus Fricker
finnCap Limited (Broker) Tel: +44 (0) 20 7220 0500
Rhys Williams / Tim Redfern
Sapience Communications (PR adviser to the Group) Tel: +44 (0) 20 3195 3240
Richard Morgan Evans
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Notes to Editors
About finnCap Group
finnCap Group plc provides financial services to ambitious
growth companies. It provides advisory and research services to
over 127 companies on AIM and on the London Stock Exchange Main
Board as well as trading services to a broad range of institutional
investors. It also advises on specialist M&A, debt advisory and
private company fundraisings with a specialism in sell-side
M&A. Together, finnCap and its subsidiaries have helped raise
GBP3bn of new capital to support its clients and advised on the
sale of over 600 companies.
About Oaklins
Oaklins is a global advisory organisation of which Cavendish
Corporate Finance is a member, providing M&A, growth equity and
ECM, debt advisory and corporate finance advisory services, with
dedicated experts covering 15 industries in 40 countries.
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END
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