Pre-close trading update

11 October 2018

Alpha Financial Markets Consulting plc

('Alpha FMC' or the 'Company' or 'Group')

Pre-close trading update

Alpha FMC (AIM: AFM), a leading global provider of specialist consultancy services to the Asset and Wealth Management industry, is pleased to provide its pre-close trading update before reporting its half yearly results for the six months ending 30 September 2018.

Alpha FMC has continued to perform well in the first half of the financial year with both revenue and Adjusted EBITDA expected to be considerably ahead of the comparative period last year, with each of the UK, US and Europe & Asia geographic regions progressing well.  The Group has continued to attract talent and grow its consulting teams globally with its total fee generating consultant headcount (including contractors) up 28 per cent to c. 350 in the 12 months to 30 September 2018.  Consultant utilisation levels are broadly in-line with the comparable prior year first half period. Operational cash generation has improved maintaining the Group's robust balance sheet.

The Board is pleased with performance to-date and remains comfortable with the current full year market expectations. 

Euan Fraser, Global CEO of Alpha FMC, commented:

"We are pleased with the Group's continued progress in the first half.  We have continued to invest in and grow our skilled consulting teams globally and recently launched Alpha's eleventh practice, FinTech & Innovation, where we believe there is exciting potential.  

The underlying industry trends of cost reduction, increasing regulation and increasing assets under management remain firmly in place, driving ongoing change programmes globally. Alpha FMC offers a compelling, quality-driven range of consulting services and continues to be well placed to advise and best assist our clients' needs.  Our pipeline remains robust and while we have not observed a 'Brexit effect' on client demand we continue to monitor the situation and clients' responses closely." 

Alpha FMC expects to report its half-year results to 30 September 2018 on 21 November 2018.

A results presentation from Alpha will take place at 9.30 a.m. on the day at Berenberg's offices, 60 Threadneedle Street. Those wishing to attend should email www.rns.com.