FNTL Fintel Plc

TIDMSBIZ

RNS Number : 9418N

SimplyBiz Group PLC (The)

24 January 2019

24 January 2019

The SimplyBiz Group plc

("SimplyBiz" or the "Group" or the "Company")

Pre-close trading statement for year ended 31 December 2018

SimplyBiz (AIM: SBIZ), the leading independent provider of compliance and business services to financial advisers and financial institutions in the UK, today issues a pre-close trading update for the year ended 31 December 2018.

The Group has performed strongly throughout the year, with trading in line with management expectations. The period marked the Group's successful admission to AIM in April 2018, with continuing momentum and successful execution of the Group's organic and inorganic growth strategy.

Highlights

- Strong revenue growth converted to strong adjusted EBITDA growth, above management expectations, and expansion of EBITDA margin compared to 2017

- Strong balance sheet, with net cash of GBP6.4m (31 December 2017: net debt of GBP23.0m), increased from net cash of GBP1.2m at 30 June 2018, reflecting strong operating performance and the beneficial impact of capital raised at IPO

   -      Group membership numbers increased by 8.5% to 3,726 (31 December 2017: 3,433) 

- Completion and integration of Landmark Surveyors Limited, which contributed c.8% to the revenue growth in the year

- The Directors are confident in the Group's overall performance and intend to propose a final dividend to Shareholders, in line with the policy of paying one third of adjusted post-IPO profit after tax as a dividend, as set out in the Company's Admission Document

Matt Timmins, Joint CEO of The SimplyBiz Group plc, said:

"The Board is pleased to report another excellent year for the Group, with great financial performance and a strong year-end balance sheet, supplementing the success of the IPO and acquisition of Landmark Surveyors. One of the many positive factors of our business model is our recurring income and forward revenue visibility. This provides us with a great deal of confidence, and we enter 2019 full of optimism and in great shape for the year ahead.

"Our capital position and a highly-fragmented marketplace offer us ongoing opportunities to build out our service offering, reinforce the strength of our organic growth platform and pursue selective acquisitions.

"Our investment in new technology, including Centra, coupled with an increase in services provided, has driven continued growth in our customer base and we would like to take this opportunity to thank our Member and Client Firms for their continued support. Our customers remain at the heart of our business and they are the driving force behind everything that we achieve."

Enquiries:

 
 SimplyBiz                              via Instinctif Partners 
 Matt Timmins (Joint Chief Executive 
  Officer) 
 Neil Stevens (Joint Chief Executive 
  Officer) 
 
 Zeus Capital (Nominated Adviser 
  and Joint Broker)                     +44 (0) 20 3829 5000 
 Martin Green 
  Andrew Jones 
  Pippa Hamnett 
 
 Peel Hunt (Joint Broker)               +44 (0) 20 7418 8900 
 Guy Wiehahn 
  Andrew Buchanan 
  Rishi Shah 
 
 Instinctif Partners                    +44 (0)20 7457 2020 / 
                                         SimplyBiz@instinctif.com 
 Giles Stewart 
  Katie Bairsto 
 

Notes to Editors

About SimplyBiz

With over 3,700 member firms in the UK, SimplyBiz is a leading independent provider of compliance and business services to financial advisers, including directly authorised IFAs, directly authorised mortgage advisers, workplace consultants and directly authorised consumer credit brokers. It also provides marketing and promotion, product panelling and co-manufacturing services to more than 135 financial institutions, through access to its membership.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

TSTDMGZMZFGGLZZ

(END) Dow Jones Newswires

January 24, 2019 02:00 ET (07:00 GMT)

Grafico Azioni Fintel (LSE:FNTL)
Storico
Da Mar 2024 a Apr 2024

Grafico Azioni Fintel (LSE:FNTL)
Storico
Da Apr 2023 a Apr 2024