Finncap tops expectations in uncertain political and economic climate

Broker Finncap expects to report a trading performance slightly ahead of market expectations for the 11 months ended 31 March despite the uncertain political and economic climate in the UK.

Finncap, which acquired Lord Leigh of Hurley’s advisory firm Cavendish back in October, said the newly added unit's post-acquisition performance had been "good", with trading consistent with its fiscal year ended 31 March 2018.

In March 2019, the enlarged group successfully completed its first buy-side advisory deal on behalf of a private equity house and has also recently provided debt advisory services to an existing listed client to support an acquisition and several sell-side opportunities.

Overall, Finncap said it had "performed well" despite the recent uncertain political and economic climate.

The AIM-listed group told investors on Thursday that it was "confident" in the execution of its strategy to deliver a broad range of financial services to ambitious companies, both public and private.

Chief executive Sam Smith said: "I am delighted by the outturn for the year against a difficult market backdrop.

"We look forward to the current financial year and to providing the best client service whilst capitalising on the many opportunities that the combination of FinnCap and Cavendish provides."

As of 1100 BST, Finncap shares had inched back 0.36% to 28p.