Alpha Financial Markets Consulting PLC (AIM:AFM) highlighted excellent double-digit organic growth across all regions in its latest full-year results.
The company, a leading global provider of specialist consultancy services to the asset management, wealth management, and insurance industries, saw its revenue surge by 44.8% to £228.7mln for the 12 months ending 31 March 2023, up from £158.0mln in 2022, with net fee income also increasing by 43.9% to £227.2mln. On an organic basis, net fee income grew by 39.6%.
Alpha Financial Markets Consulting saw its gross profit reach £80.4mln, with a margin of 35.4%. Adjusted EBITDA rose by 37.5% to £46.6mln, and adjusted profit before tax increased by 38.6% to £44.0mln, with adjusted earnings per share up 36.4% to 29.27p.
In the results statement, Luc Baqué, Alpha Financial Markets Consulting's new CEO - who took over on 31 March 2023 - expressed his satisfaction with the financial performance, commenting: "I am very pleased by the financial performance of the business over the year; the group has exceeded expectations and achieved excellent organic growth across all regions, in particular North America."
Baqué also highlighted the company's resilience in the face of a lengthening sales cycle and increased competition, expressing confidence in Alpha's client proposition and growth strategy.
Euan Fraser, the company's chief executive officer to 31 March 2023, added: "The past financial year covers the final year of my decade as Alpha's CEO. I am delighted that the group has experienced such strong growth and a set of financial results that exceeded our expectations. The group has also achieved, well ahead of plan, the ambition we set out in 2020 to double in size."
Alpha Financial Markets Consulting said it looks forward to the future with resilient trading and a promising pipeline of new business opportunities.
The company added that it remains confident in delivering current year results aligned with market expectations while navigating increased competition and managing discretionary spend strategically.