Pre-close trading update

Alpha Fin Markets Consulting plc

11 April 2024

 

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)	[phone]
Investec Bank plc - NOMAD & Joint Corporate Broker Patrick Robb James Rudd St John Hunter	[phone]
Berenberg - Joint Corporate Broker Toby Flaux James Thompson Alix Mecklenburg-Solodkoff	[phone]
Camarco - Financial PR Ed Gascoigne-Pees	[phone]
Phoebe Pugh

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.

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