REG - MJ Hudson Group PLC - Trading Update

MJ HudsonAnnouncement

12/05/2022 07:00

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RNS Number : 1809L  MJ Hudson Group PLC  12 May 2022

 

Immediate
release
12 May 2022

 

MJ Hudson Group plc

("MJ Hudson", the "Company" or the "Group")

Trading Update

Trading ahead of expectations for current year after strong third quarter and
prestigious client gains

MJ Hudson, the end-to-end solutions provider to the asset management industry,
is pleased to announce that trading in the three months to 31 March 2022 ("Q3
FY22") has been particularly strong across the Group with the result that the
Company expects to report results ahead of current market consensus for the 12
months ended 30 June 2022 ("FY22"), with encouraging signs that this trend
will continue.

The Board expects the Group´s FY22 results to show adjusted EBITDA of at
least £8.3m which would represent an increase of at least 45% compared with
the prior year.  This outperformance is underpinned by an improved business
mix through new client revenues in higher margin segments. Revenue visibility
has also improved owing to the largely recurring nature of this new business.
MJ Hudson has also secured significant new client wins, the full impact of
which will be experienced in FY23.

As outlined in the Interim Results, the key areas of outperformance are the
Company´s three transformative growth areas: ESG & Sustainability; the
Irish Super ManCo; and Luxembourg fund services. In particular, the Group´s
ESG services are gaining traction with new, prestigious global private equity
clients. There has been significant interest in the new digital platform,
ESGAdvantage, leading to client uptake ahead of management's expectations.

Each of the Group´s three divisions has made client gains in recent months
which are expected to advance the Company´s financial position in the full
year period to June 2022 and beyond:

·      Data & Analytics - the Group´s ESG activities, which now
span Amsterdam, London and New York, have been underpinned by early
contributions from new clients, as set out above. The division saw strong
performances across all business units, including the January 2021 acquisition
of Fund Performance Analytics, where growth and margins remain robust.

·      Outsourcing - growth in the Group´s operations in Ireland and
Luxembourg remain strong with the Outsourcing division as a whole ahead of
budget at the nine-month stage.

·      Advisory - there has been a sustained recovery in legal services
after a difficult first half, led by an improving trend of client activity and
the anticipated gains from hiring of new partners.

Matthew Hudson, CEO of MJ Hudson, commented:

"We are delighted to give such a positive update on trading, today, following
an exceptionally strong third quarter. As outlined in our Interim Results, we
have a number of high growth opportunities which are beginning to scale.  In
particular, our Data & Analytics division (which supports our clients in a
number of key areas, including ESG) is attracting some of the largest names in
private markets to us. We are increasingly finding ourselves considered the
go-to solution provider in the sector. Our ability to win high-profile clients
across our other business areas demonstrates the end-to-end strength of the MJ
Hudson platform. This, taken together with our exposure to the on-going growth
of private markets and our long term relationships with mostly an
Anglo-American client base, underpins our growth and makes for a resilient
business model.  We look forward to updating the market further on our
progress in due course".

For further information contact:

 MJ Hudson Group plc                   +44 20 3463 3200

 Matthew Hudson, CEO

 Matthew Craig-Greene, CMO

 Katherine Hazelden, PR Director
 Cenkos Securities (Nomad and Broker)

 Giles Balleny                         +44 20 7397 8900

 Stephen Keys

 Callum Davidson
 Buchanan (PR Adviser)                 +44 20 7466 5000

 Stephanie Whitmore

 Kim van Beeck

 George Cleary

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit)
Regulations 2019. Upon the publication of this announcement via the Regulatory
Information Service, this inside information is now considered to be in the
public domain.

 

About MJ Hudson

 

MJ Hudson (AIM:MJH) is the end-to-end solutions provider to the US$100
trillion+ asset management industry, specialising in its fastest growing
segment, private markets (including private equity and venture capital).

 

The Company offers investors access to the growth in private markets as a
tech-enabled 'picks and shovels' play.

 

Founded in 2010, by CEO Matthew Hudson (a private markets lawyer and former
fund manager), MJ Hudson was admitted to the AIM market of the London Stock
Exchange in 2019. The Group has grown to more than 300 professionals, serving
more than 1,000 clients, across the globe, including some of the industry's
largest players and 18 of the FTSE 100.

 

Several factors have contributed to the Group's success, to date, and support
strong growth expectations, for the future:

 

1.   Private markets are growing fast, and MJ Hudson provides the picks and
shovels

 

2.   As private markets grow, so do scrutiny and regulation, increasing the
need for the Group's specialist advice and services, particularly in areas
like ESG, where it has award-winning solutions

 

3.   As it evolves, the sector is increasingly embracing technology, data,
and analytics, where MJ Hudson has market-leading and award-winning tools and
in which it continues to invest

 

4.   The Group's multi-service approach creates multiple client touchpoints,
building stronger, longer-term relationships, and making it easier to sell in
additional MJ Hudson services

 

5.   Performing these services generates vast amounts of data, which MJ
Hudson aggregates and analyses, in order to further support its clients, by
developing next-generation tools and fine-tuning existing services

 

For more information, please visit our website: www.mjhudson.com/investors
(http://www.mjhudson.com/investors)

 

LinkedIn: www.linkedin.com/company/mj-hudson/
(http://www.linkedin.com/company/mj-hudson/)
Twitter: www.twitter.com/MJHudsonCorp (http://www.twitter.com/MJHudsonCorp)

 

 

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