Alpha FMC reiterates guidance as trading picks up in Q4

Alpha FMC maintained its adjusted EBITDA forecast for the year ended 31 March of £42-43m, saying it ended the period with overall consultant utilisation at close to target levels in March.

The company said in February that adjusted EBITDA would be lower than the then-consensus estimate of £47.6m and below the £46.6m reported the year before.

Client demand is said to have been "robust" with higher sales wins in recent months, while maintaining a strong pipeline of new business opportunities.

"As previously reported, the global consulting market has experienced a more competitive environment during FY 24, with a longer sales cycle remaining evident and supply & demand dynamics continuing to rebalance. Following slower-than-planned January trading announced in February, trading has improved through the rest of Q4, as expected," the company said in a statement on Thursday.

Alpha FMC said long-term structural growth drivers were still intact and that it is well positioned to meet its target to double the business by 2028.

Chief executive Luc Baqué said: "It is encouraging to see some improvement in market conditions and increased sales wins in recent months and going into FY 25.

"With the group's ongoing strong pipeline, leading expertise, strong propositions and multiple growth opportunities, we remain well positioned for future growth."