The Board of
Following a robust financial and operational performance in H1, the Group has traded materially ahead of our expectations in H2. The capital markets business recorded its highest level of quarterly deal fees in Q3 and continued to enjoy good growth in year-on-year sales and trading revenue. After a quiet Q3, the M&A team in Cavendish has delivered a strong performance to date in Q4 with the successful closure of a number of deals before the announcement of the
As a result, the Board now expects total income for the current financial year to be in excess of £43m, approximately 65% up on FY20, and that the Group's profits and year-end cash balance will accordingly be well ahead of the Board's expectations at the time of the announcement of the interim results to
"After a strong performance in H1, it has been great to see the whole business continue to deliver for our clients and stakeholders. In line with our strategy, we have continued to invest in the business in H2 with further hires into deal origination and into our ECM business, in particular into sales and trading, which has already been a key contributor to our performance this year. Our pipeline remains good, with deals still too close for FY21 and I look forward to announcing our results in July."
The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU No. 596/2014) which is part of
Contacts:
finnCap Group plc Tel: +44 (0) 20 7220 0500
finnCap Ltd (Joint Broker) Tel: +44 (0) 20 7220 0500
finnCap provides financial services to growth companies both public and private. It provides advisory, broking and research services to companies on AIM and on the London Stock Exchange Main Market and also advises on M&A, with a specialism in sell-side M&A through Cavendish, as well as arranging corporate debt and private company fundraisings. finnCap also provides trading services to a broad range of institutional investors.
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