H1 22 Unaudited Revenues - strong growth on H1 21

RNS Number : 8235N

finnCap Group PLC

04 October 2021

 

For immediate release

4 October 2021

finnCap Group PLC

H1 22 Unaudited Revenues - strong growth on H1 21

Further to its AGM statement on 23 September 2021, finnCap Group PLC ("finnCap" or the "Company" or the "Group"), a leading provider of strategic advisory and capital raising services to growth companies, is delighted to confirm that unaudited revenue for the six months ended 30 September 2021 is expected to be approximately 31.8m, an increase of 55% on the prior period.

The unaudited divisional performance is set out below:

Six months to 30 September			H1 22 2021	H1 21 2020
(unaudited)			£m	£m	%
Revenues
Retainer income			3.2	3.2	0%
Transactions			8.7	10.1	-14%
Institutional stockbroking			3.7	3.1	19%
finnCap Capital Markets			15.6	16.3	-4%
finnCap Cavendish			16.2	4.2	286%
Total Revenue			31.8	20.5	55%

Sam Smith, CEO commented:

"We closed 4 further M&A deals between our AGM update on 23rd September and the end of the first half of the year and group revenue is up 55%.   In H1, we raised £243m of equity for clients, advised on 5 public company M&A transactions with an aggregate value of nearly £500m and on 13 private M&A transactions with an aggregate value of £1 billion.

Our finnCap Capital Markets team performed well - in a comparatively quieter period - and revenue is in line with our expectations.  finnCap Cavendish has clearly capitalised on a robust M&A market. 

Our overall revenue growth shows the clear benefit of our strategy to diversify our products beyond ECM - undertaken over the past 3 years - to service the broader strategic and financial needs of ambitious growing companies.  Our pipeline is healthy and we now feel confident in delivering a revenue outcome for the year within an upgraded range of £45-50m.

I look forward to announcing our interim results and updating investors on our current trading and dividend expectations for FY22 later in November."

Contacts:

finnCap Group plc                                                                                  Tel: [phone]

Sam Smith, Chief Executive Officer
Richard Snow, Chief Financial Officer

Grant Thornton (Nominated Adviser)                                                  Tel: [phone]

Philip Secrett/Samantha Harrison/George Grainger  

Oberon Capital  (Joint Broker)                                                               Tel: [phone]

Mike Seabrook

finnCap Ltd (Joint Broker)                                                                    Tel: [phone]

Rhys Williams/Tim Redfern

 Hudson Sandler (PR Adviser)                                                              Tel: [phone]

Dan de Belder/Rebekah Chapman 

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

About finnCap

finnCap Group provides strategic advice, capital raising and related services to corporate and institutional clients and high net worth investors including private equity and family offices.  Established in 2007 the Group has built a strong track record in equity advice and fund-raisings, public and private M&A, debt arrangement and advice and act as NOMAD for clients listed on AIM with a particular focus on the technology, life sciences, consumer and business services sectors.

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