Stock Market News
Sanne sees full year underlying EPS in line despite FX impact
Sanne, a FTSE 250 provider of alternative asset and corporate administration services, said on Tuesday that 2017 underlying earnings per share are anticipated to be in line with the board's expectations despite the adverse impact from currency movements, thanks to continued momentum in the second half.
The group said that following its half-year report back in September, it has continued to see momentum through the second half of the year, with steady progress on the integration of each of its acquired businesses. However, it has also seen some adverse impact from FX translation given its increased exposure to US dollar earnings following the acquisitions of FLSV Fund Administration Services LLC in the US and the IFS Group in Mauritius.
Sanne also said that aligned to the latest guidance from the Financial Reporting Council, shared-based payments relating to its performance share plan and annual bonus plan will be included in underlying earnings from now. This amounted to non-cash amounts of around £700,000 and £1.6m in each of the years ended 31 December 2016 and 2017 respectively.
The company is due to release its results for the year to 31 December 2017 next month.
At 0900 GMT, the shares were down 6.2.% to 671p, tracking sharp falls in the broader equity market.
The group said that following its half-year report back in September, it has continued to see momentum through the second half of the year, with steady progress on the integration of each of its acquired businesses. However, it has also seen some adverse impact from FX translation given its increased exposure to US dollar earnings following the acquisitions of FLSV Fund Administration Services LLC in the US and the IFS Group in Mauritius.
Sanne also said that aligned to the latest guidance from the Financial Reporting Council, shared-based payments relating to its performance share plan and annual bonus plan will be included in underlying earnings from now. This amounted to non-cash amounts of around £700,000 and £1.6m in each of the years ended 31 December 2016 and 2017 respectively.
The company is due to release its results for the year to 31 December 2017 next month.
At 0900 GMT, the shares were down 6.2.% to 671p, tracking sharp falls in the broader equity market.
Related share prices |
---|
Sanne Group (SNN) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price