Sanne Group posts impressive rise in first half earnings

Sanne Group posted its interim results for the six months to 30 June on Wednesday, with revenue rising 31% to £27.6m and underlying operating profit improving 30% to £10.3m.

The London-listed firm’s operating profit rose £10m to £8.3m, turning around the £1.7m operating loss in the six months to 30 June 2015.

Underlying diluted earnings per share were up 27% to 8.1p during the period, with Sanne’s underlying operating cash conversion up 240 basis points to 117.3%.

The company’s board declared an interim dividend per share of 3.2%, up 129% from a year ago.

“We are pleased with the performance of the group in the first half as we continue to win new business from both existing and new clients,” said Sanne Group CEO Dean Godwin.

“In addition to strong organic growth, our recent acquisitions demonstrate the group's commitment to a targeted acquisition strategy which develops market share, expands Sanne's asset and jurisdictional offerings and creates opportunities for operational leverage.

“While the outcome of the EU referendum has created uncertainty in some markets, our strong momentum and diverse presence, as well as the favourable underlying trends in our markets, give us confidence in the continued growth of the group,” Godwin explained.