Brief: UK's Finncap says FY inline; M&A market has improved

Cavendish

13/07/2023 07:10

July 13 (Reuters) - Finncap Group Plc  FCAP.L :
    * FY REVENUE 32.9 MILLION STG
    * FY REVENUE 32.9 MILLION STG
    * SAYS FY23 IN LINE WITH EXPECTATIONS; CENKOS MERGER ON
TRACK; Q1
FY24 REVENUE +32% UP ON PRIOR YEAR
    * SAYS FY24 FIXED COST BASE SUBSTANTIALLY REDUCED TO C.£28M
FROM
C.£31.5M H123 RUN RATE
    * SAYS UK EQUITY ISSUANCE SUBDUED SINCE INVASION OF UKRAINE
- FY23
DECLINE IN AIM ISSUANCE OF C.70%
    * SAYS ECONOMIC UNCERTAINTY, RISING INTEREST RATES AND
INFLATION
IMPACTING INVESTOR CONFIDENCE
    * SAYS PRIVATE AND PLC M&A ACTIVITY MARKET HAS IMPROVED IN
EARLY
FY24; ECM PIPELINE BUILDING FOR H2
    * SAYS TOTAL REVENUE £32.9M (FY22: £52.5M) DOWN 37% VERSUS
FY23
RECORD REVENUE PERFORMANCE
    * SAYS FY24 HAS STARTED WELL WITH Q1 REVENUE OF £8.7M UP 32%
ON Q1
FY23 (£6.6M)

Source text for Eikon:  ID: 
Further company coverage:  FCAP.L 

 (Reporting By Simon Jessop)
 ((simon.jessop@thomsonreuters.com;))