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Interim Results

Sanne sales up

07 September 2017 08:00

Sanne said group revenue for 2017 H1 increased by 104% to £56.3m in the first half of 2017 (2016 H1: £27.6m).

15.3% of this was organic growth.

HIGHLIGHTS:

- Continued strong performance within each of the group's business segments

- New business with annualised fees of approximately £10m won in the first six months with a healthy pipeline continuing into the second half

- Integration of prior year acquisitions progressing well with continued focus into the second half

- Acquisition of IFS in Mauritius completed, broadening geographic footprint and significantly increasing scale and expertise

- Continued strengthening of senior management team to deliver strategic capacity

- Successful implementation of the new global operating structure

- Development and expansion of the Group's fund technology capability continues to be a key focus

Larger office space secured in Hong Kong, Shanghai and Singapore to support growth in Asia-Pacific

Due to a change in the group's expected effective tax rate, the Board now expects to deliver underlying EPS for the full year marginally ahead of its previous expectations.

CEO Dean Godwin said: "We are pleased with the performance of the Group in the first half.

"We have continued to see strong growth in new business wins, with the increase in cross-selling opportunities across our regional business segments particularly encouraging, and we have a healthy pipeline moving into the second half of the year.

"Our recent strategic acquisitions are being successfully integrated and already yielding benefits.

"As our business grows, during the second half of the year, we will continue to invest in our people, processes and technology."

At 8:00am: (LON:SNN) Sanne Group Plc share price was -4p at 778p

Story provided by StockMarketWire.com

Related Company: SNN

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