Trading Statement

RNS Number : 4149T

MJ Hudson Group PLC

20 July 2020

 

MJ Hudson Group plc

(the "Company", "Group" or "MJ Hudson")

Full Year Trading Update

MJ Hudson, the international asset management consultancy, is pleased to announce an update following the end of its financial year to 30 June 2020 (´FY 2020´).

· Group underlying revenue grew by 24% to approximately £20.8m* in the year to June 2020 (FY2019: £16.7m). This figure includes maiden contributions from acquisitions Spring, AST and most recently Meyler. Over 92% of underlying revenue growth was recurring in nature

· Management continues to expect the Group's profits for FY 2020 to be in line with market expectations.

· On an organic basis, underlying revenue grew by 7.4% year on year. This compares with 12.5% organic growth in the first half (against the same period in the prior year), before the impact of the Covid-19 pandemic.

· With the benefit of recent acquisitions and growth, over 84% of underlying revenue for the year to June 2020 was either recurring or were otherwise from clients who contributed revenue in the prior period.

· We continue to explore organic and inorganic opportunities for expansion. Our balance sheet remains strong with net cash at the end of the period of £10.1m*, a figure which includes the stage payment of €1m for the Group's ESG acquisition last year, which was brought forward from the current financial period.

*Figures remain subject to audit

Current trading

The Covid-19 pandemic has caused a freezing of new private funds launches and thus held back revenue in our advisory division in the four months to end June 2020. Despite that, June remained the strongest revenue month for the Group and the division in the second half of the financial year, as has been the pattern in prior years. Although organic underlying revenue growth on a consolidated basis was flat in our second half, this is an encouraging result. Market uncertainty remains a factor, but continued momentum in our new business activity across the Group and the progress made in FY 2020 give management confidence for the new financial year just started.

For further information contact:

MJ Hudson Group plc Matthew Hudson, CEO Andrew Walsh, IRO Katherine Hazelden, PR Director	[phone]
Cenkos Securities (Nomad and Broker) Giles Balleny Stephen Keys Callum Davidson Harry Hargreaves	[phone]

About MJ Hudson

MJ Hudson, the asset management consultancy, provides expertise and infrastructure support to fund managers, investors and other specialists in the asset management industries. The firm's services include law, fund management solutions, international administration, investment advisory, data & analytics and IR & Marketing.

This comprehensive range of capabilities, coupled with MJ Hudson's ability to draw on many industry perspectives, allows the firm to build project teams that are extremely effective at helping clients achieve multiple goals. From its offices across the major asset management centres, MJ Hudson's team of more than 182 professionals work for clients managing and advising more than $1trn of assets. The firm has expertise in all traditional and alternative asset classes, including equities and bonds, private equity, venture capital, hedge funds, real estate, infrastructure, energy, and credit.

 

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