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
Luc Baqué (Chief Executive Officer)
John Paton (Chief Financial Officer)
Georgina Sharley (Company Secretary)
|
+44 (0)20 7796 9300
|
Investec Bank plc - NOMAD & Joint Corporate
Broker
Patrick Robb
James Rudd
St John Hunter
|
+44 (0)20 7597 4000
|
Berenberg - Joint Corporate
Broker
Toby Flaux
James Thompson
Alix
Mecklenburg-Solodkoff
|
+44 (0)20 3207 7800
|
Camarco - Financial PR
Ed Gascoigne-Pees
|
+44 (0)20 3757 4980
|
Phoebe Pugh
|
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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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