Alternative asset and corporate administration services provider Sanne Group announced its results for the year ended 31 December on Thursday, with group revenue increasing 77% to £113.2m.
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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.
Sanne Group confirmed on Tuesday that applications have been made to the Financial Conduct Authority and the London Stock Exchange for 477,567 shares to be admitted to the premium listing segment of the Official List and to trading on the Main Market, related to the company's acquisition of FLSV Fund Administration Services.
Sanne, a provider of alternative asset and corporate administration services, has entered into an agreement to buy Luxembourg Investment Solutions (LIS) and Compliance Partners for up to 100m in a deal that is expected to be immediately earnings enhancing.
Sanne Group posted a healthy improvement in revenue and earnings in its first half on Thursday, with revenue rising 104% to £56.3m and underlying operating profit up 109% to £21.5m.
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.
Asset and corporate administration service provider Sanne said it had quintupled full year profits to £15m from £2.4 the previous year, driven by cost control and growth in revenue.
Scottish Mortgage Investment Trust and Rentokil Initial have been promoted to the FTSE 100 index as part of a quarterly reshuffle, with Dixons Carphone and Capita dropping out after falls in their share price in recent months.
Dixons Carphone is likely to be demoted from the FTSE 100 index as part of the latest quarterly review on Tuesday evening, with Capita and EasyJet close to the drop zone and Intu Properties escaping for another day.
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Analysts at Berenberg have selected a 'top 15' stock picks from their global small and mid-cap universe, including London-listed Asos, CVS, Greencore, Sanne Group and Scapa.
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Sanne, a specialist provider of outsourced corporate, fund and private client administration, reporting and fiduciary services, has entered into an agreement to acquire International Financial Services (IFS) and its trustees for a consideration of around $127.3m.
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Sanne Group posted its interim results for the six months to 30 June on Wednesday, with revenue rising 31% to £27.6m and underlying operating profit improving 30% to £10.3m.
Finance administration outsourcer Sanne said despite Bexit uncertainty, new business wins and a new acquisition gives it confidence for future growth.
Sanne Group, a specialist provider of outsourced corporate and fund administration, has agreed to acquire Dublin-based Chartered Corporate Services (CCS) for an undisclosed sum.