finnCaps revenue grew by 55% in the first half as increased M&A activity led to higher revenues from their finnCap Cavendish unit.
Total revenu grew to £31.8m in the six months ending 30th September, up from £20.5m in the same period a year higher.
Institutional stockbroking revenue grew by 19% to £3.,7mm whilst transactions revenue fell 14% to £8.7m.
“We closed 4 further M&A deals between our AGM update on 23rd September and the end of the first half of the year and group revenue is up 55%,” said CEO Sam Smith.
In H1, we raised £243m of equity for clients, advised on 5 public company M&A transactions with an aggregate value of nearly £500m and on 13 private M&A transactions with an aggregate value of £1 billion.”
Our finnCap Capital Markets team performed well – in a comparatively quieter period – and revenue is in line with our expectations. finnCap Cavendish has clearly capitalised on a robust M&A market.
Our overall revenue growth shows the clear benefit of our strategy to diversify our products beyond ECM – undertaken over the past 3 years – to service the broader strategic and financial needs of ambitious growing companies. Our pipeline is healthy and we now feel confident in delivering a revenue outcome for the year within an upgraded range of £45-50m.
I look forward to announcing our interim results and updating investors on our current trading and dividend expectations for FY22 later in November.”