LONDON (ShareCast) - (Sharecast News) - Asset management, wealth management and insurance consultancy specialist Alpha FMC reported a strong second-half performance in a trading update on Thursday, citing positive conditions and ongoing global client demand.
The AIM-traded firm said that as a result, it was expecting to report full-year results significantly ahead of current market expectations.

Alpha FMC said it delivered strong double-digit organic net fee income growth compared to the prior year, with adjusted EBITDA also showing healthy growth while margins remained consistent.

The company's North America region, including Lionpoint, showed particularly good progress and was continuing to trade strongly.

It also said it continued to successfully deliver good sales wins, and had maintained its strong opportunity pipeline.

"I am delighted with the group's performance since our initial public offering in 2017," said global chief executive officer Euan Fraser.

"In little more than five years, our fantastic team has created a truly global business and almost quadrupled profits delivering value to all stakeholders.

"Since our interim results in November, the group has continued to perform very well and is enjoying strong client demand in asset management and insurance consulting across all our major geographic regions, with North America continuing its excellent performance."

Fraser said the firm was ending the 2023 financial year "significantly ahead" of expectations and with a "strong" balance sheet.

"We remain mindful of the inflationary backdrop and geopolitical uncertainties and remain positive that the underlying industry trends and our market leading reputation will continue to drive demand globally for our services."

At 1238 GMT, shares in Alpha Financial Markets Consulting were up 4.6% at 455p.

Reporting by Josh White for Sharecast.com.

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