Proactiveinvestors United Kingdom Sanne Group PLC https://www.proactiveinvestors.co.uk Proactiveinvestors United Kingdom Sanne Group PLC RSS feed en Wed, 22 May 2019 09:49:11 +0100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190516161957_14077374/ Thu, 16 May 2019 16:19:57 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190516161957_14077374/ <![CDATA[RNS press release - Notice of Capital Markets Event ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190515070012_14074063/ Wed, 15 May 2019 07:00:12 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190515070012_14074063/ <![CDATA[RNS press release - Posting of Annual Report and Notice of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190412123015_14039718/ Fri, 12 Apr 2019 12:30:15 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190412123015_14039718/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190409160502_14034833/ Tue, 09 Apr 2019 16:05:02 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190409160502_14034833/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190404151621_14029598/ Thu, 04 Apr 2019 15:16:21 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190404151621_14029598/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190327070005_14016915/ Wed, 27 Mar 2019 07:00:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190327070005_14016915/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190325070013_14013439/ Mon, 25 Mar 2019 07:00:13 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190325070013_14013439/ <![CDATA[News - Sanne Group lifts dividend as profits gain on record new business ]]> https://www.proactiveinvestors.co.uk/companies/news/217009/sanne-group-lifts-dividend-as-profits-gain-on-record-new-business-217009.html Sanne Group PLC (LON:SNN) saw its shares rise on Friday as the group, which provides alternative asset and corporate services, reported a 12.6% rise in 2018 underlying pre-tax profit as record new business wins boosted revenue.

Underlying pre-tax profit rose to £42.6mln last year from £38.1mln in 2017, on revenue up 27.2% to £143mlln. Organic revenue at constant currency rose 12.4%.

READ: Sanne shares tumble as news chief executive to retire counters upbeat trading statement

The increase in revenue was driven by new business wins and growth in closed-ended alternatives and corporate businesses.

The company secured new business wins with annualised revenue of about £24.5mln last year.

There were also revenue contributions from last year’s acquisitions of Luxembourg Investment Solutions (LIS), an alternative investment fund management firm, and AgenSynd, a Madrid-based loan agency services business.

Sanne said it would continue to review “various potential acquisitions within a healthy pipeline of opportunities”.

The company lifted its full-year dividend by 9.5% to 13.8p.

Another strong year expected

It expects further growth in 2019, supported by good momentum in the alternatives and corporate businesses, which account for 86% of group revenue.

The company said it remains “confident in the medium and long-term prospects for the group”.

"2018 was a significant year of growth and evolution for Sanne,” said chief executive Dean Godwin, who is stepping down on May 16.  

“Our core businesses continued to perform strongly, particularly in EMEA and the US, and we are encouraged to see the momentum building in Asia-Pacific Mauritius.”

Martin Schnaier, chief executive-designate, said: "We are excited about the opportunities in our markets and are confident that the investments we have been making in our platform will further strengthen our competitive advantage and scale our business in the years ahead.

“These investments, and the strong momentum we are seeing in our business give us confidence in our prospects and ambitious growth expectations."

In a note to clients, analysts at Liberum Capital commented: “Given the recent trading update it is unsurprising that numbers are broadly in line with our and market expectations.”

They said the “Industry backdrop remains very positive, however, higher tax and IFRS is likely to result in small downgrades”.

Liberum repeated a ‘buy’ rating and 625p target price on Sanne shares, which in afternoon trading were up nearly 2% at 514p.

 -- Adds analyst comment, share price --

]]>
Fri, 22 Mar 2019 08:13:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/217009/sanne-group-lifts-dividend-as-profits-gain-on-record-new-business-217009.html
<![CDATA[RNS press release - Final Results ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190322070004_14011717/ Fri, 22 Mar 2019 07:00:04 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190322070004_14011717/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190225113202_13980568/ Mon, 25 Feb 2019 11:32:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190225113202_13980568/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190131165446_13954241/ Thu, 31 Jan 2019 16:54:46 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190131165446_13954241/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190125183123_13947797/ Fri, 25 Jan 2019 18:31:23 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190125183123_13947797/ <![CDATA[News - Sanne shares tumble as news chief executive to retire counters upbeat trading statement ]]> https://www.proactiveinvestors.co.uk/companies/news/213185/sanne-shares-tumble-as-news-chief-executive-to-retire-counters-upbeat-trading-statement-213185.html Sanne Group PLC (LON:SNN) saw its shares tumble on Wednesday as news that its chief executive Dean Godwin has decided to retire countered an upbeat trading statement from the provider of alternative asset and corporate services.

In a statement, the FTSE 250-listed firm announced that Martin Schnaier, previously its chief commercial officer, will succeed Godwin as CEO in May.

READ: Sanne Group sees half-year profits fall as margins decline, but still confident of meeting full-year expectations

Godwin, who has 20 years’ experience in the fund administration sector, joined Sanne in 2012 and led the company's successful IPO in 2015, with the firm growing its revenue and underlying operating profit by over 600% during the period of his tenure.

In a note to clients, analysts at Liberum Capital commented: “Although we believe that Martin has the required experience to lead the company into its next phase of growth, the surprise nature of this announcement, especially given the departure of CFO less than 12 months ago, is likely to raise questions.”

Record new business wins

In a separate announcement on trading following the end of the group's financial year ended on 31 December 2018, Sanne said it enjoyed a strong performance in the year with the second half of the year driving record new business and sales wins.

The company said it achieved "record new business with sales wins representing £13.0mln of additional annualised revenue" In the second half of 2018.

Sanne pointed out that it saw organic growth across its European and Asia-Pacific regions that exceeded expectations, while North America maintained its high levels of historic growth.

The company said it expects to report underlying profit before tax for the year to 2018 broadly in line with its expectations.

It added that it was pleased with the initial performance so far in 2019 and it remains confident in the group's prospects.

But Liberum expects profit downgrades

Liberum’s analysts noted, however, that while the group appears well positioned to deliver revenue slightly ahead of consensus expectations of around £141mln, they expect to see downgrades to full-year 2018 consensus pre-tax profit estimates of around 3%.

They said this “restructuring in the group’s Private Client business and continued investment in Alternatives, is likely to result in a smaller improvement in 2H margins than previously guided to by management.”

The analysts concluded: “Whilst we expect this to be received negatively by investors, we do point to a strong outlook for 2019, underpinned by new business wins which at £24.5m were up 17% from FY17.”

In late afternoon trading, Sanne topped the FTSE 250 fallers list, down 18% at 449p.

]]>
Wed, 23 Jan 2019 15:08:00 +0000 https://www.proactiveinvestors.co.uk/companies/news/213185/sanne-shares-tumble-as-news-chief-executive-to-retire-counters-upbeat-trading-statement-213185.html
<![CDATA[RNS press release - Chief Executive Officer succession plan ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190123070003_13943306/ Wed, 23 Jan 2019 07:00:03 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190123070003_13943306/ <![CDATA[RNS press release - Pre-close statement and notice of results ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190123070002_13943302/ Wed, 23 Jan 2019 07:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190123070002_13943302/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190115085058_13934907/ Tue, 15 Jan 2019 08:50:58 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190115085058_13934907/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190109070002_13928159/ Wed, 09 Jan 2019 07:00:02 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20190109070002_13928159/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181212085247_13900785/ Wed, 12 Dec 2018 08:52:47 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181212085247_13900785/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181205114118_13892623/ Wed, 05 Dec 2018 11:41:18 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181205114118_13892623/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181205113831_13892616/ Wed, 05 Dec 2018 11:38:31 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181205113831_13892616/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181119131749_13872174/ Mon, 19 Nov 2018 13:17:49 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181119131749_13872174/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181116143140_13870552/ Fri, 16 Nov 2018 14:31:40 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181116143140_13870552/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181116110905_13870195/ Fri, 16 Nov 2018 11:09:05 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181116110905_13870195/ <![CDATA[RNS press release - Issue of Equity ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181113160743_13865540/ Tue, 13 Nov 2018 16:07:43 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181113160743_13865540/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181105150634_13855526/ Mon, 05 Nov 2018 15:06:34 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181105150634_13855526/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181102155824_13853825/ Fri, 02 Nov 2018 15:58:24 +0000 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181102155824_13853825/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181023181506_13839706/ Tue, 23 Oct 2018 18:15:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181023181506_13839706/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181019165750_13836314/ Fri, 19 Oct 2018 16:57:50 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181019165750_13836314/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181012104009_13826953/ Fri, 12 Oct 2018 10:40:09 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181012104009_13826953/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181003121124_13815151/ Wed, 03 Oct 2018 12:11:24 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181003121124_13815151/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181003120857_13815145/ Wed, 03 Oct 2018 12:08:57 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181003120857_13815145/ <![CDATA[RNS press release - Notification of Board Changes ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181002163145_13813796/ Tue, 02 Oct 2018 16:31:45 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181002163145_13813796/ <![CDATA[RNS press release - Result of Extraordinary General Meeting ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181001163041_13811931/ Mon, 01 Oct 2018 16:30:41 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20181001163041_13811931/ <![CDATA[RNS press release - Notice of EGM and change of registered address ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180913151043_13790200/ Thu, 13 Sep 2018 15:10:43 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180913151043_13790200/ <![CDATA[RNS press release - Issue of Equity ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180912132551_13788406/ Wed, 12 Sep 2018 13:25:51 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180912132551_13788406/ <![CDATA[News - Sanne Group sees half-year profits fall as margins decline, but still confident of meeting full-year expectations ]]> https://www.proactiveinvestors.co.uk/companies/news/204605/sanne-group-sees-half-year-profits-fall-as-margins-decline-but-still-confident-of-meeting-full-year-expectations-204605.html Sanne Group PLC (LON:SNN) has reported a fall in half-year profits reflecting a decline in margin, although the outsourced corporate and fund administration specialist raised its interim dividend and remains confident of meeting full-year expectations.

For the six months to June 30, the FTSE 250-listed firm reported a 1.5% fall in underlying pre-tax profits to £19.4mln as its underlying operating profit margin fell to 30.3%, down from 37.1% a year earlier.

READ: Sanne downgraded to 'add' by Numis Securities

However, the group’s half-year revenue increased by 19.5% to £65.9mln, and a confidence going forward led the firm to raise its interim dividend by 9.5% to 4.6p, up from 4.2p a year earlier.  

Dean Godwin, Sanne’s chief executive officer commented: "These results demonstrate the continuing momentum in our business and the result of the investment we are making to enhance our platforms and capabilities. We delivered a strong performance in our core alternatives divisions and we continue to broaden our geographic presence and client offering.

“Our most recent acquisitions in Mauritius and Luxembourg are integrating successfully and contributing to the Group's performance and we are pleased to announce today the acquisition of AgenSynd which further expands our European footprint and capabilities within the private debt market."

He added: "We will build on this progress in the second half of the year, given the strong new business pipeline, and remain confident in meeting our expectations for the full year.“

Sanne also announced the appointment of RBC Capital Markets as its joint corporate broker alongside Investec Bank, with immediate effect.

]]>
Tue, 11 Sep 2018 08:04:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/204605/sanne-group-sees-half-year-profits-fall-as-margins-decline-but-still-confident-of-meeting-full-year-expectations-204605.html
<![CDATA[RNS press release - Change of Adviser ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180911070105_13785621/ Tue, 11 Sep 2018 07:01:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180911070105_13785621/ <![CDATA[RNS press release - Half-year Report ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180911070018_13785570/ Tue, 11 Sep 2018 07:00:18 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180911070018_13785570/ <![CDATA[RNS press release - Issue of Equity ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180824112854_13767820/ Fri, 24 Aug 2018 11:28:54 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180824112854_13767820/ <![CDATA[News - Sanne downgraded to 'add' by Numis Securities ]]> https://www.proactiveinvestors.co.uk/companies/news/202196/sanne-downgraded-to-add-by-numis-securities-202196.html Following the stock’s recent rally, Numis Securities has downgraded Sanne Group PLC (LON:SNN) to ‘add’ while leaving its target price unchanged at 725p.

Yesterday’s trading update from the provider of administration services to the alternative assets sector, indicated that full-year results would be in line with expectations, prompting Numis to nudge up its revenue forecast by 4%.

Shares up despite downgrade

Numis’s full-year assumption for organic revenue growth remains 12% but it expects the rate to be around 8-9% in the first half and the low-to-mid-teens in the second, partly because of last year’s comparatives.

“We hold our underlying operating profit assumption at £46mln, which continues to experience currency headwinds (c.50% of the business is US$-denominated). However, we expect c.£21.3m in H1 (implying a 46:54 H1:H2 split vs a 54:46 split in 2017, but consistent with the split in 2014-16). Accordingly, we expect reported 1H18 PBTA to be flat (£20.3m), and reported EPS to be modestly down, owing to a higher share count,” the broker said.

Shares in Sanne were up 2p at 678p.  

Analyst at Liberum Capital Reconfirmed Sanne Group PLC $SNNStock Rating as a ‘"Hold"’ - https://t.co/DfZPuKdlnt

— WhatsOnThorold (@whatsonthorold2) August 2, 2018 ]]>
Fri, 03 Aug 2018 11:49:00 +0100 https://www.proactiveinvestors.co.uk/companies/news/202196/sanne-downgraded-to-add-by-numis-securities-202196.html
<![CDATA[RNS press release - Trading Update ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180802070003_13740579/ Thu, 02 Aug 2018 07:00:03 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180802070003_13740579/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180709154216_13711014/ Mon, 09 Jul 2018 15:42:16 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180709154216_13711014/ <![CDATA[RNS press release - Director/PDMR Shareholding ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180629070007_13698452/ Fri, 29 Jun 2018 07:00:07 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180629070007_13698452/ <![CDATA[RNS press release - Board Change ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180627070005_13694846/ Wed, 27 Jun 2018 07:00:05 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180627070005_13694846/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180604163637_13666279/ Mon, 04 Jun 2018 16:36:37 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180604163637_13666279/ <![CDATA[RNS press release - Total Voting Rights ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180601112620_13663754/ Fri, 01 Jun 2018 11:26:20 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180601112620_13663754/ <![CDATA[RNS press release - Issue of Equity ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180525113001_13655969/ Fri, 25 May 2018 11:30:01 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180525113001_13655969/ <![CDATA[RNS press release - Holding(s) in Company ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180504100446_13630478/ Fri, 04 May 2018 10:04:46 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180504100446_13630478/ <![CDATA[RNS press release - Result of AGM ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180503131918_13629148/ Thu, 03 May 2018 13:19:18 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180503131918_13629148/ <![CDATA[RNS press release - Total Voting Rights and Capital ]]> https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180501100006_13625474/ Tue, 01 May 2018 10:00:06 +0100 https://www.proactiveinvestors.co.uk/companies/rns/16793/LSE20180501100006_13625474/