Sanne pre-tax profits soar 525% on bumper revenue growth

Asset and corporate administration service provider Sanne said it had quintupled full year profits to £15m from £2.4 the previous year, driven by cost control and growth in revenue.

Underlying profits were up 31% to £22m, while revenue jumped 40% to £63.8m in what the company called a “transformational year”.

The company has recommended a final dividend of 6.4p a share for a total of 9.6p, up from 7p a share.

Sanne said it had seen a strong pipeline of new business within its core alternatives focused business divisions of debt, real estate, private equity and hedge.

The projected annualised value of new business won in the year grew to around £13.8m, up from £13m, Sanne added.

The company said its diversified geographical presence would allow it to deal with the uncertainties created by the UK's decision to leave the European Union.

“While the final outcome of the UK's negotiations with the EU will not be known for some time, the Group continues to invest in the development of its client proposition across its many operational centres, both inside and outside the EU,” Sanne said.