REG - Alpha Fin. Markets - Pre-close trading update

Alpha Financial Markets ConsultingAnnouncement

11/04/2024 07:00

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RNS Number : 1099K  Alpha Fin Markets Consulting plc  11 April 2024

11 April 2024

 

 

Alpha Financial Markets Consulting plc

('Alpha FMC' or 'Alpha' or the 'Group')

 

Pre-close trading update

 

Alpha FMC (AIM: AFM), a leading global consultancy to the financial services
industry, provides its scheduled pre-close trading update for the year ended
31 March 2024 ("FY 24").

 

As previously reported, the global consulting market has experienced a more
competitive environment during FY 24, with a longer sales cycle remaining
evident and supply & demand dynamics continuing to rebalance.  Following
slower than planned January trading announced in February, trading has
improved through the rest of Q4, as expected, ending the financial year with
overall consultant utilisation at close to target levels in March.

 

The Board continues to expect to deliver net fee income growth (up around 3%)
against the prior year and adjusted EBITDA of £42m - £43m at a slightly
improved margin on the first half.

 

The Group continues to see robust client demand and has seen higher sales wins
in recent months, while maintaining a strong pipeline of new business
opportunities. These factors, together with the strong long-term structural
growth drivers that underpin demand for Alpha's services and the Group's
compelling proposition to clients, gives us confidence that the Group remains
well positioned for continued growth, in line with our ambition to double the
business again by 2028.

 

Alpha FMC expects to report its full year results for the year ended 31 March
2024 on Thursday, 20 June 2024.

 

Luc Baqué, Chief Executive Officer, commented:

"As noted last in February, challenging market conditions remain and the
market environment continues to rebalance supply & demand. However, it is
encouraging to see some improvement in market conditions and increased sales
wins in recent months and going into FY 25. With the Group's ongoing strong
pipeline, leading expertise, strong propositions and multiple growth
opportunities, we remain well positioned for future growth."

 

 

Enquiries:

 Alpha Financial Markets Consulting plc                  +44 (0)20 7796 9300

 Luc Baqué (Chief Executive Officer)

 John Paton (Chief Financial Officer)

 Georgina Sharley (Company Secretary)

 Investec Bank plc - NOMAD & Joint Corporate Broker      +44 (0)20 7597 4000

 Patrick Robb

 James Rudd

 St John Hunter

 Berenberg - Joint Corporate Broker                      +44 (0)20 3207 7800

 Toby Flaux

 James Thompson

 Alix Mecklenburg-Solodkoff

 Camarco - Financial PR                                  +44 (0)20 3757 4980

 Ed Gascoigne-Pees
 Phoebe Pugh

About Alpha FMC:

Headquartered in the UK and quoted on the Alternative Investment Market of the
London Stock Exchange, Alpha is a leading global consultancy to the financial
services industry.

Alpha combines highly specialist, sector-focussed management consulting and
technology expertise to support the client transformation lifecycle. It has
over 1,000 consultants globally, operating from 17 client-facing offices
spanning the UK, North America, Europe and APAC.

- ENDS -

 

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