Published on: October 8, 2019
Resilient performance in a challenging market
finnCap has released a trading update for the first six months of its current financial year; the period to the end of September 2019. The half year contained a full contribution from Cavendish which it acquired in December 2018 at the same time that finnCap was admitted to AIM. The release says that it expects to report revenue of approximately £14.2 million and PBT of not less than £1.3 million. Those numbers compare, respectively, to £9.1 million and £1.4 million in the five-month comparator period. The Board notes the political backdrop and generally challenging market conditions that have also been reported by market participants during the period and we see this as a resilient performance by finnCap in its first half. The announcement notes growing evidence of additional opportunities resulting from the combination of the businesses and international reach through Oaklins. The Group cites a good number of new client signings and completed mandates (see below) with a healthy pipeline of opportunities. We believe that the first half reflects the benefits of a diverse set of services and finnCap’s focus on growth companies and expect the Group to continue to execute on its growth strategy.