Nucleus Financial net inflows improve 'significantly' in Q4
By Iain Gilbert
Date: Friday 11 Dec 2020
(Sharecast News) - Fintech group Nucleus Financial outlined a better-than-expected trading performance on Friday as a result of "significantly improved" net inflows in the fourth quarter of the year.
Nucleus said it had seen higher net inflows of £388.0m, increased assets under administration of £17.3bn and continued new firm momentum with the signing of a new enterprise relationship.
Outflows also dropped 19.6% year-on-year in the period from 1 October to 9 December.
As a result of its strong fourth-quarter performance, the AIM-listed group said both adjusted underlying earnings for the year ending 31 December and year-end AUA were expected to exceed board expectations.
Chief executive David Ferguson said: "We came into 2020 in great shape and as flows dipped through the height of the pandemic, we chose to maintain our focus and continue to invest in the things that make the greatest difference to our users, in the expectation that momentum would return as it has.:
As of 0845 GMT, Nucleus shares were up 2.34% at 175.0p.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN