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Financial Services

Alpha FMC results to be at upper end of forecasts after pick-up in trading

“Whilst the COVID-19 situation is ongoing, the financial year ends with strong trading across our markets and with a good new business pipeline"

Alpha Financial Markets Consulting PLC (LON:AFM) said underlying profits for the year to March will be at the upper end of market forecasts after trading improved steadily during the second half.

Euan Fraser, chief executive of the fund management industry consultant, added: "I am delighted with Alpha's robust performance this year, achieved despite the challenges created by the COVID-19 pandemic.

“Whilst the COVID-19 situation is ongoing, the financial year ends with strong trading across our markets and with a good new business pipeline.

“We remain positive that the medium-term underlying industry trends of cost reduction, increasing regulation and growth in assets under management, will continue to drive ongoing change programmes globally for which Alpha's expanding range of quality consulting services is well placed to advise and best assist our clients' needs.

The group ended the year with approximately £34m of cash balances and an undrawn £20m loan facility.

Alpha FMC said it expects to report its results for the year ended 31 March 2021 on Thursday, 24 June 2021.

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