Coronavirus impact: 8 Oct – what does this business do?
The latest update from a provider of specialist consultancy services is reassuring, but we find it hard to understand what it really does, which is never an ideal scenario when contemplating an investment. There seems more evident appeal from our new Bonkers Bargain opportunity.
Alpha Financial Markets: positive pre-close update, but…Alpha FMC (AIM: AFM), a leading global provider of specialist consultancy services to the asset and wealth management industry, reported a positive period of trading for the six months ending 30 September 2020. While short on giving specific numbers, they commented on achieving good net fee income growth as well as growth in adjusted EBITDA and good levels of new business wins. Adjusted EBITDA for the first half of the comparable period in 2019 was £9.5m, so expect it to be higher than this. The balance sheet is in great shape with cash balances…