Sanne Group sees strong performance continue in first half
Sanne Group
921.00p
16:23 04/08/22
Alternative asset and corporate administration services provider Sanne Group said its core business lines saw “good growth” in the first half of the year on Tuesday, driven by “strong momentum” from new business opportunities delivered in the latter part of 2016.
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The FTSE 250 company updated the market on its trading for the six months to 30 June, ahead of its interim results, due to be published on 7 September.
It said that in the first six months of the year it continued that momentum from late 2016, securing new business from both new and existing clients totaling approximately £10m on a projected annualised fee basis.
“We are pleased with the performance of the group in the first half and the continued new business wins gives us confidence in future growth,” said chief executive Dean Godwin.
Following the completion of the acquisition of IFS Mauritius at the start of the year, the Sanne board said that business was integrating “well” into the group, and performing in line with expectations.
Likewise its US acquisition, completed in November 2016, was “continuing to perform well”, operating in a market which the board said had “very favourable” outsourcing and growth trends.
The pipeline of new business wins and performance of acquisitions gave the board confidence that it would deliver results for the year “in line” with its expectations.