Sanne Group PLC Pre-close statement and notice of results (8234N)
23 January 2019 - 6:00PM
UK Regulatory
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RNS Number : 8234N
Sanne Group PLC
23 January 2019
23 January 2019
Sanne Group plc ("SANNE" or "the Group")
Pre-close statement and notice of results
SANNE, the global provider of alternative asset and corporate
services, today provides a pre-close update following the end of
the Group's financial year end on 31 December 2018.
SANNE has seen strong performance in 2018 with the traditional
second half weighting resulting in full year revenues in line with
the Board's expectations as the Alternatives and Corporate
businesses outperformed which more than offset continued headwinds
impacting the South African Hedge platform and the Private Client
business.
The second half saw record new business with sales wins in H2
representing c.GBP13.0m of additional annualised revenue.
The Group saw organic growth across its European and
Asia-Pacific regions that exceeded expectations. The Mauritius
business continued its progress of improving growth as further
investment and management initiatives have proved successful. North
America maintained its high levels of historic growth. The
acquisitions made during the year also performed very well.
The second half also saw an improvement in underlying operating
margins as the Group starts to see the benefits of the investment
in people, processes and systems referred to at the half year. This
improvement remained modest however as a result of additional
investment made to improve SANNE's Private Client business, as well
as supporting the strong growth in the Alternatives business. As a
result of the revenue and margin performance, the Board expects to
report underlying profit before tax for the year to 2018 broadly in
line with its expectations.
The strong performance across the Group's Alternatives and
Corporate businesses in the second half has continued in early 2019
and amongst other benefits has resulted in the Group expanding its
fastest growing region, Asia-Pacific, with a new office opening in
Japan during January 2019.
Given this strong momentum into 2019, coupled with the continued
growth in levels of new business wins, the Board remains confident
in the Group's prospects for 2019.
Notice of 2018 Results
The Group will announce its full year results for the year to 31
December 2018 on Friday 22 March 2019.
Enquiries:
Sanne Group plc
Dean Godwin, Chief Executive Officer
Martin Schnaier, Chief Executive Officer
Designate
James Ireland, Chief Financial Officer +44 (0) 1534 722 787
Investec Bank plc
Chris Baird / David Flin
Edward Thomas / Neil Coleman +44 (0) 20 7597 5970
RBC Capital Markets
Darrell Uden
Daniel Werchola
Jonathan Hardy +44 (0) 20 7653 4000
Tulchan Communications LLP
Tom Murray +44 (0) 20 7353 4200
Notes
About Sanne
SANNE is a leading global provider of alternative asset and
corporate services.
Established for over 30 years and listed as a FTSE 250 company
on the Main Market of the London Stock Exchange, SANNE employs more
than 1,400 people worldwide and administers structures and funds
that have in excess of GBP215 billion of assets.
SANNE delivers tailored fiduciary services to a highly valued
international client base through a global network of offices
located in 18 leading financial jurisdictions, which are spread
across the Americas, Europe, Africa and Asia-Pacific.
Clients are serviced through regional businesses which are led
by managing directors with extensive asset class and market
experience. They in turn are supported by multifunctional and
skilled teams of professionally qualified people who are aligned to
the specific requirements of each client, across one accredited
platform.
SANNE leads in the provision of fund and corporate
administration, AIFMD depositary and AIFM management company
services. Specialist expertise exists in private debt and capital
markets, real estate, private equity, hedge, loan agency,
regulatory, corporate, executive incentives, private client, family
office and investment treasury services.
Key clients include leading alternative asset managers, global
financial institutions, family offices, UHNWIs and international
corporates.
sannegroup.com
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END
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