Alpha Financial expects 'considerable' earnings beat

Alpha Financial Markets said it expected both revenue and adjusted EBITDA to come in "considerably ahead" of last year, after a half year of progress for the asset and wealth management industry consultant.

Alpha FMC said its UK, US, Europe and Asia businesses had all progressed "well" in the six months ended 30 September.

The AIM-listed outfit also revealed it had improved its cash generation, assisting it in maintaining its "robust balance sheet".

Alpha also said it had continued to attract talent and grow its consulting teams throughout the period, with its total fee generating consultant headcount up 28% to around 350.

Chief executive Euan Fraser said: "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 and Innovation, where we believe there is exciting potential."

"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."

As of 0930 BST, Alpha shares had slipped 2.90% to 218p.