Alpha Financial Markets drops on possible short-term weakness

Alpha Financial Markets Consulting

22/06/2023 10:15

** Shares of Alpha Financial Markets  AFM.L  down as much as
15.9% at 420p
    ** Stock of the specialist consultancy service provider on
track to record worst day since March 2020, if losses hold
    ** Co says it sees higher levels of competition and a
lengthening of sales cycle in the short term 
    ** Says it continues to keep a tight rein on costs as the
global consulting market looks to balance supply with overall
demand
    ** With the outlook  commentary, we expect the shares to go 
weaker today - Peel Hunt
    ** Co posts FY revenue up 44.8% at 228.7 mln pounds ($292.28
million) and its profit before tax up 73.2% at 25.8 mln stg 
    ** As per last close, Alpha Financial stock up 6.3% YTD

    ($1 = 0.7825 pounds)

 (Reporting by Sinchita Mitra in Bengaluru)
 ((Sinchita.mitra@thomsonreuters.com))