Sanne full-year EPS seen in line with expectations

Alternative asset services firm Sanne said on Thursday that underlying earnings per share for the year to the end of December 2020 are set to be line with its expectations.

In an update ahead of its full-year results in March, the company said EPS will be consistent with its trading update last month.

Despite the market backdrop being impacted by the ongoing Covid-19 pandemic through the second half, Sanne said it continued to trade resiliently, with increased client activity converting into new business wins in the fourth quarter.

This delivered a "robust" new business performance, with annualised new business wins of £22.5m for the year. "This result should provide good growth momentum for 2021 and beyond," Sanne said.

In addition, the business delivered a strong cash performance with underlying cash conversion above 90% for the period.

"Sanne remains confident that the medium and long-term prospects for the industry are compelling and continues to focus on ensuring the group is well-placed to take advantage of the significant structural growth drivers in its markets," it said.