Alpha Financial Markets Consulting PLC (AIM:AFM) said trading in the six months to 30 September has been resilient in the face of a more competitive market, though a more positive market sentiment is returning since the summer.
The specialist consultancy services to the asset management, wealth management and insurance industries said net fee income in the first half was up 8% year on year, amid a longer sales cycle.
Adjusted EBITDA margin was just over 17%, compared to 20.5% in the previous full year, which was attributed to reduced average utilisation, partly reflecting quieter summer months.
But "a more positive market sentiment is returning", it said, with robust client demand and a good pipeline of new business opportunities at the start of the second half.
The board anticipates delivering full-year results in line with current market expectations.
Alpha said hiring costs were well controlled and good progress was made in North America, particularly in its alternative investments consulting business, Lionpoint.
The net cash position was said to remain strong.