SimplyBiz Group PLC (The) Trading Statement (6426G)
25 Luglio 2019 - 8:01AM
UK Regulatory
TIDMSBIZ
RNS Number : 6426G
SimplyBiz Group PLC (The)
25 July 2019
25 July 2019
The SimplyBiz Group plc
("SimplyBiz" or the "Group")
Pre-close trading statement for six months ended 30 June
2019
and Notice of Half Year Results
SimplyBiz (AIM: SBIZ), the independent provider of compliance,
technology and business services to financial advisers and
financial institutions in the UK, is today issuing a pre-close
trading update for the six months ended 30 June 2019.
In March 2019, the Group completed the acquisition of Defaqto, a
financial information and technology business, through a debt and
equity raise and has continued to grow the organic* revenues and
adjusted EBITDA of the Group.
Highlights
- Following the acquisition of Defaqto in March 2019, the Group
has delivered 20% revenue and 30% adjusted EBITDA growth in the
period, including the 3-month contribution from Defaqto.
- The integration of Defaqto has and continues to progress well
and the enlarged Group now serves over 6,000 intermediaries and
over 350 financial institutions, significantly increasing the scale
of the Group.
- The Group has continued to deliver organic revenue and adjusted EBITDA growth.
- Group net debt is GBP30.1m at 30 June 2019, in line with
expectations, after scheduled payment of a GBP1.6m dividend in
April.
- The Directors are confident that the Group's overall
performance is in line with expectations and intend to declare an
interim dividend to Shareholders, in line with the stated dividend
policy.
Outlook
- Management remains confident of delivering against their full year earnings expectation.
Notice of Half-Year Results
The Group intends to publish its half-year results on 10
September 2019.
Matt Timmins, Joint CEO of The SimplyBiz Group plc, said:
"We are delighted to have completed the acquisition of Defaqto
in March 2019 and welcome their directors and staff into The
SimplyBiz Group.
"The integration of the business is progressing well and in line
with management expectations. As well as delivering the
acquisition, we have continued to grow the organic revenues and
adjusted EBITDA of the Group."
* Organic growth is defined as the year on year increase in a
financial metric, excluding the impact of acquisitions.
Enquiries:
SimplyBiz Group via Instinctif Partners
Matt Timmins (Joint Chief Executive
Officer)
Neil Stevens (Joint Chief Executive
Officer)
Gareth Hague (Group Finance Director)
Zeus Capital (Nominated Adviser
and Joint Broker) +44 (0) 20 3829 5000
Martin Green
Andrew Jones
Pippa Hamnett
Peel Hunt (Joint Broker)
Guy Wiehahn
Andrew Buchanan
Rishi Shah +44 (0) 20 7418 8900
Instinctif Partners +44 (0)20 7457 2020 /
SimplyBiz@instinctif.com
Nick Woods
Katie Bairsto
Notes to Editors
About SimplyBiz Group
With over 3,700 member firms in the UK, SimplyBiz is an
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.
Defaqto is a financial services technology business operating a
fintech platform for 8,500 advisers and providing independent
ratings of 21,000 financial products and funds, licenced by 230
brands.
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
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