Published on: July 7, 2020
Well placed in an uncertain environment
finnCap has reported full year results for the twelve months to the end of March 2020 in line with previous guidance. It was a period in which the uncertain political and economic environment produced low market volumes and fewer deals (which also took longer to complete). COVID-19 had little impact on these numbers but, at the beginning of April, finnCap took some significant measures to enhance its near-term cash position and strengthen its balance sheet. Subsequently, the Group has displayed a resilient performance thanks to its suite of services to companies with strong growth ambitions and the subsequent three months (Q1 of finnCap’s FY 21) have seen a significant uplift in revenue – to a level which is a record quarterly performance for the Group – as clients moved to raise funds and trading volumes picked up, although deal numbers slowed worldwide. The combination of cost control and improved performance leaves the Group with a more robust balance sheet and well placed to drive its growth strategy forward.