finnCap Group PLC – Interim results and interim dividend

finnCap Group PLC – Interim results and interim dividend

finnCap Group plc (AIM:FCAP), together with its subsidiaries the “Group”, today announces its unaudited interim results for the six months ended 30 September 2019.

Financial highlights:

·     Turnover of £14.2m (5 months to 30 September 2018: £9.1m)

Equity Capital Markets division turnover £9.2m (5 months to 30 September 2018: £9.1m)

M&A division turnover £5.0m (5 months to 30 September 2018: £nil)

·     Pre-tax profit £1.4m (5 months to 30 September 2018: £1.4m)

·     Adjusted EPS of 0.76p per share*

·     Interim dividend of 0.42p per share

·     Cash of £5.1m (31 Mar 2019: £4.7m)

Operational highlights:

·     Completed 29 transactions across a broad range of sectors and service lines, with total deal and advisory fees of £9.2m (5 months to 30 September 2018: £4.7m)

·     Won 12 new retained corporate clients, with 131 retained clients at 22 November 2019

·     Average monthly retainer fees of £529k (5 months to 30 September 2018: £520k)

·     Completed 8 sale mandates across 5 sectors, for a variety of owner-managed businesses and subsidiaries of public companies

·     Signed up 19 new M&A division mandates

·     Executed or currently mandated on 8 plc bid or advisory mandates for clients outside our retained client base

·     Continued to hire in to existing teams and to develop new teams

The comparable figures throughout this announcement are for the five-month period from 1 May 2018 to 30 September 2018 because of a change in year-end, and only include the performance of finnCap Ltd as this period was before the acquisition of Cavendish Corporate Finance.

Commenting on the results, Sam Smith, Chief Executive Officer, said:

“The period has seen some very testing market conditions, ongoing domestic political uncertainty and turbulent macro-economic headwinds affecting equities globally. The Group now has a more diversified revenue stream following our acquisition of Cavendish Corporate Finance in December 2018 and we remain excited about continuing to build a financial services business for growth companies.”

No Comments

Post a Comment