Broker makes hay | Spin-out value | FX picks up
In an incredible year for fund raisings, AIM broker finnCap announced fantastic results. Were these a one-off, or are the good times set to continue? Elsewhere a developer of digital solutions to assess brain health announced the successful spin-out of a drug development company. More on this and other news in our update here
finnCap Group: making hay AIM corporate broker finncap Group (LON:FCAP) reported fabulous results for the year ending March 2021. Revenue rose 84% to £47.6m with adjusted pre-tax profit up a staggering 625% to £9.6m. Cash rose, to £20.4m, over four times higher than at the end of the last financial year. The period saw finnCap Capital Markets execute 64 transactions, including raising over £720m across 33 equity fundraisings for listed clients and four IPOs. Revenue from their finnCap Capital Markets rose 84% to £34.5m, of which deal fees exceeded £20m for the first time. The finnCap Cavendish business experienced an M&A…