finnCap Group PLC Trading Update (0681V)
04 April 2019 - 5:01PM
UK Regulatory
TIDMFCAP
RNS Number : 0681V
finnCap Group PLC
04 April 2019
RNS Announcement
Date: 4 April 2019
Trading Update
finnCap Group PLC
finnCap Group plc (AIM: FCAP) (the "Company" or "the Group")
provides the following trading update for the 11 month period
ending 31(st) March 2019.
The Directors expect to report a trading performance for the 11
month period to 31 March 2019 slightly ahead of management's
expectations when the Company's AIM Admission Document was
published on 29 November 2018. The performance of Cavendish in the
post-acquisition period has been good with trading consistent with
its financial year ended 31 March 2018 and finnCap Limited
("finnCap") has had a strong final quarter. Overall the Group has
performed well despite the recent uncertain political and economic
climate.
There are already good indications of the benefits of combining
finnCap and Cavendish. In March 2019, the Group successfully
completed its first buy side advisory deal on behalf of a private
equity house. The Group has also recently provided debt advisory
services to an existing listed client of finnCap to support an
acquisition and several sell side opportunities have been
introduced to Cavendish through finnCap's existing network.
The Board remains confident in the execution of its strategy to
deliver a broad range of financial services to ambitious companies,
both public and private. Whilst the political climate remains
uncertain the Group maintains a healthy pipeline of transactions
across its services and is therefore confident about the current
outlook.
The Company's audited financial results for the 11 months ended
31 March 2019 are expected to be announced at the start of July
2019, and a further trading update will be made at that time.
Sam Smith, CEO of the Group, said: "I am delighted by the
outturn for the year against a difficult market backdrop. As a
business we are focused on providing services to a broad range of
ambitious companies and it is very pleasing to produce this trading
performance from advising on over 70 transactions with no one
client representing more than 5 per cent. of revenue.
We look forward to the current financial year and to providing
the best client service whilst capitalising on the many
opportunities that the combination of finnCap and Cavendish
provides."
Contacts
finnCap Group plc Tel: +44 (0) 20 7220 0500
Sam Smith, Chief Executive Officer
investor.relations@finncap.com
Tom Hayward, Chief Financial Officer
Grant Thornton (Nominated Adviser) Tel: +44 (0) 20 7383 5100
Philip Secrett/Samantha Harrison/Seamus Fricker
finnCap Limited (Broker) Tel: +44 (0) 20 7220 0500
Rhys Williams
Sapience Communications (PR adviser to the Group) Tel: +44 (0) 20 3195 3240
Richard Morgan Evans
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
About finnCap Group
finnCap Group plc is a leading adviser and broker to ambitious
growth companies, both public and private. Through finnCap Limited
it provides access to capital, M&A, plc advisory, debt advisory
and research coverage to corporates as well as trade execution
services and research to institutional investors. Through Cavendish
it provides a specialist sell side advisory service to mid-market
companies. Since it was established in 2007, finnCap has helped
raise more than GBP2.6bn of new capital to support corporate
clients and currently acts for 125 listed corporates. Cavendish has
advised on over 600 sales mandates since it was founded over 30
years ago.
finnCap Group plc accelerates companies' growth by working in
partnership with driven business leaders, realising their growth
aspirations at every stage of their journey. finnCap Group plc's
expertise spans multiple sectors, public and private markets.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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