Alpha FMC describes 'strong' first-half performance

11th Oct 2022 15:30

(Sharecast News) - Asset and wealth management and insurance sector consultant Alpha FMC said in a trading update on Tuesday that it was "very pleased" with its "strong performance" in its first half.

The AIM-traded firm said the "good momentum" and strong pipeline it carried into the new financial year continued, with positive trading conditions in the six months ended 30 September.

Ongoing client demand globally delivered "strong" double-digit organic net fee income growth compared to the first half of the prior year, with good progress reported in Alpha's North America region, including Lionpoint, which continued to trade strongly, as the company invested in its team globally.

Adjusted EBITDA also grew strongly, at "good margins" consistent with the 2022 financial year.

The group said it also successfully continued to deliver "excellent" sales wins, and maintained a "healthy" opportunity pipeline through the first half.

"While cognisant of the increasingly uncertain global political and macroeconomic backdrop, the goard remains confident in achieving market expectations for the full year," the board said in its statement.

Alpha FMC said it expected to report its interim results for the six months ended 30 September on 23 November.

At 1512 BST, shares in Alpha Financial Markets Consulting were down 4.22% at 363.95p.

Reporting by Josh White at Sharecast.com.