We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Afh Financial Group Plc | LSE:AFHP | London | Ordinary Share | GB00B4W5WQ08 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 475.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMAFHP TIDMAFHB
RNS Number : 4026Y
AFH Financial Group Plc
03 March 2017
3 March 2017
AFH Financial Group PLC
("AFH" or the "Group" or the "Company")
AGM Statement
Strong Recurring Revenues with Gross Margins maintained above 55%
Five acquisitions announced since the year end and strong pipeline of prospective acquisitions
Robust Balance Sheet
At the Company's Annual General Meeting ("AGM"), to be held at 11:00am today at AFH House, Buntsford Drive, Stoke Heath, Bromsgrove B60 4JE, John Wheatley, Chairman of AFH, will update shareholders with the following statement:
"As reported in the audited results released on 30 January 2017, I am pleased to confirm that the Company's core business continues to perform in line expectations and that recurring revenue continues to remain strong as a result of the inflow of new funds during the period. As in 2016, gross margins remain above the 55% level.
During the first four months of the current financial year the Company announced five acquisitions, paying a combined GBP2.0m in initial cash consideration. Whilst these acquisitions are not expected to make a material contribution to our first half results, the benefits arising from these businesses will be apparent in our full year results and are expected to benefit earnings in the current year.
During the first quarter of the current financial year, the Company made deferred payments, based on trading performance, of GBP1.07m in respect of acquisitions completed in previous periods and anticipates a further GBP1.3m to be paid during the second quarter.
As set out in my previous statement, the Company will pay an interim dividend of 3.0p on 4 May 2017 to shareholders on the register of members at the close of business on 18 April 2017.
I am pleased to report that both the Company's balance sheet, and pipeline of prospective acquisitions, remains strong and further selective acquisitions are anticipated during the current financial year. As at 1 March the Company had cash balances of GBP4.1m. The Directors remain confident that the Group is well positioned to take advantage of market opportunities as they arise."
Enquiries:
01527 577 AFH Financial Group PLC 775 Alan Hudson, Chief Executive Officer Paul Wright, Chief Financial Officer www.afhfinancialgroup.com Liberum 020 3100 2000 (Nominated Adviser and Broker) John Fishley/Richard Bootle Camarco 020 3757 4985 Geoffrey Pelham-Lane/Jennifer Renwick
This information is provided by RNS
The company news service from the London Stock Exchange
END
AGMJTMFTMBAMBIR
(END) Dow Jones Newswires
March 03, 2017 02:00 ET (07:00 GMT)
1 Year Afh Financial Chart |
1 Month Afh Financial Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions