Alpha Financial Markets Consulting PLC (AIM:AFM), which provides specialist consultancy services to the financial sector, said strong trading momentum has continued into the new fiscal year.
The previous fiscal year – to the end of March – saw revenue rise 61.1% to £158.0mln from £98.1mln the year before; on a like-for-like basis, revenue and net fee income were up 31.3% year-on-year.
Adjusted profit before tax surged to £31.8mln from £19.6mln the previous year while statutory profit before tax improved to £14.9mln from £9.0mln. Adjusted underlying earnings jumped 56% to £33.9mln from £21.7mln the previous year.
Net cash at the end of the reporting period was positive at £63.5mln, up from £34.0mln at the end of March 2021.
The board has recommended a final dividend of 7.5p, up from 4.85p the year before, taking the full-year payout to 10.4p, up 49.6% from the previous year’s dividend of 6.95p.
“This past financial year has been the most successful in Alpha's history and we experienced strong growth in every part of Alpha's consulting business,” said Euan Fraser, the global chief executive officer of Alpha Financial.
“The value of our specialist expertise is well recognised and the benefits of this are increasing as we scale and extend our competitive challenge,” he added.
Ken Fry, the company's chair, said the Alpha business enjoyed strong momentum through the previous financial year (FY22) and that has continued into FY23.
"The group's business is strongly cash generative and has a record pipeline of potential new business, while the industry tailwinds that underpin demand for its services remain strong. Therefore, we start the year in excellent health," Fry said.