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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
The Simplybiz Group Plc | LSE:SBIZ | London | Ordinary Share | GB00BG1THS43 | ORD GBP0.01 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 195.00 | 190.00 | 200.00 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMSBIZ
RNS Number : 6426G
SimplyBiz Group PLC (The)
25 July 2019
25 July 2019
The SimplyBiz Group plc
("SimplyBiz" or the "Group")
Pre-close trading statement for six months ended 30 June 2019
and Notice of Half Year Results
SimplyBiz (AIM: SBIZ), the independent provider of compliance, technology and business services to financial advisers and financial institutions in the UK, is today issuing a pre-close trading update for the six months ended 30 June 2019.
In March 2019, the Group completed the acquisition of Defaqto, a financial information and technology business, through a debt and equity raise and has continued to grow the organic* revenues and adjusted EBITDA of the Group.
Highlights
- Following the acquisition of Defaqto in March 2019, the Group has delivered 20% revenue and 30% adjusted EBITDA growth in the period, including the 3-month contribution from Defaqto.
- The integration of Defaqto has and continues to progress well and the enlarged Group now serves over 6,000 intermediaries and over 350 financial institutions, significantly increasing the scale of the Group.
- The Group has continued to deliver organic revenue and adjusted EBITDA growth.
- Group net debt is GBP30.1m at 30 June 2019, in line with expectations, after scheduled payment of a GBP1.6m dividend in April.
- The Directors are confident that the Group's overall performance is in line with expectations and intend to declare an interim dividend to Shareholders, in line with the stated dividend policy.
Outlook
- Management remains confident of delivering against their full year earnings expectation.
Notice of Half-Year Results
The Group intends to publish its half-year results on 10 September 2019.
Matt Timmins, Joint CEO of The SimplyBiz Group plc, said:
"We are delighted to have completed the acquisition of Defaqto in March 2019 and welcome their directors and staff into The SimplyBiz Group.
"The integration of the business is progressing well and in line with management expectations. As well as delivering the acquisition, we have continued to grow the organic revenues and adjusted EBITDA of the Group."
* Organic growth is defined as the year on year increase in a financial metric, excluding the impact of acquisitions.
Enquiries:
SimplyBiz Group via Instinctif Partners Matt Timmins (Joint Chief Executive Officer) Neil Stevens (Joint Chief Executive Officer) Gareth Hague (Group Finance Director) Zeus Capital (Nominated Adviser and Joint Broker) +44 (0) 20 3829 5000 Martin Green Andrew Jones Pippa Hamnett Peel Hunt (Joint Broker) Guy Wiehahn Andrew Buchanan Rishi Shah +44 (0) 20 7418 8900 Instinctif Partners +44 (0)20 7457 2020 / SimplyBiz@instinctif.com Nick Woods Katie Bairsto
Notes to Editors
About SimplyBiz Group
With over 3,700 member firms in the UK, SimplyBiz is an independent provider of compliance and business services to financial advisers, including directly authorised IFAs, directly authorised mortgage advisers, workplace consultants and directly authorised consumer credit brokers. It also provides marketing and promotion, product panelling and co-manufacturing services to more than 135 financial institutions, through access to its membership.
Defaqto is a financial services technology business operating a fintech platform for 8,500 advisers and providing independent ratings of 21,000 financial products and funds, licenced by 230 brands.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
July 25, 2019 02:01 ET (06:01 GMT)
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