AFH Financial Group Plc Pre-close Trading Update and Notice of Results (4933F)
17 Novembre 2020 - 8:00AM
UK Regulatory
TIDMAFHP TIDMAFHB
RNS Number : 4933F
AFH Financial Group Plc
17 November 2020
17 November 2020
AFH FINANCIAL GROUP PLC
("AFH" or "Group" or the "Company")
PRE-CLOSE TRADING UPDATE AND NOTICE OF RESULTS
AFH, a leading financial planning-led wealth management firm, is
pleased to provide the following pre-close update on trading for
the twelve months ended 31 October 2020 .
Trading continues both in line with management expectations and
with the Trading Update reported on 30 September 2020. As announced
at that time, staff and clients have continued to adapt well to the
revised working practices and, where possible, staff have continued
to work from home in line with Government advice. Careful cash
management remains a top priority, and the Company's cash balance
as at 31 October 2020 was GBP13m.
The Board is pleased to note that ongoing management fees have
remained at the anticipated levels during the summer period and,
whilst inflows of client funds remain below pre COVID-19 levels,
there has been a gradual increase since May 2020 and outflows of
clients' funds during the second half of the year remained at a
similar level to previous periods.
Marketing led organic growth remains the focus of the Company
and, following a quieter period since the first COVID-19 lockdown
in March, recruitment of employed advisers has increased
significantly during the last quarter and, combined with the
anticipated leads from our digital marketing activities, provides
the basis for further organic growth in 2021.
The Board looks forward to 2021 and is confident that the Group
is well positioned to manage any challenges that may continue to
arise from the unsettled macroeconomic environment. AFH maintains a
strong balance sheet and the Board remains committed to a measured
and considered approach to managing shareholder funds, while
investing in the necessary infrastructure, technology and
management to support its steady progress.
Notice of Results
The Group intends to publish its full year results for the
period ending 31 October 2020 during the week commencing 18 January
2021.
For further information, please contact:
AFH Financial Group PLC
Alan Hudson, Chief Executive Officer
Paul Wright, Chief Financial Officer 01527 577 775
Shore Capital (Nominated Adviser and Broker)
Corporate Advisory: Hugh Morgan / Daniel
Bush / Sarah Mather
Corporate Broking: Henry Willcocks 0207 408 4090
Yellow Jersey PR Limited (Financial PR)
Joe Burgess / Annabel Atkins / Dom Barretto 0776 93 25 254
Notes to Editors
AFH Financial Group (AIM: AFHP) is a leading UK financial
planning-led wealth management firm based in the Midlands. Founded
in 1990 by CEO Alan Hudson, the Company provides wealth management
and financial advisory services to over 20,000 clients in the UK.
These services are delivered by over 450 professional advisers and
400 support staff.
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END
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