Sanne Group (SNN)

Sector:

Financials

Index:

FTSE 250

657.00p
   
  • Change Today:
      24.00p
  • 52 Week High: 728.00
  • 52 Week Low: 468.50
  • Currency: UK Pounds
  • Shares Issued: 146.53m
  • Volume: 304,640
  • Market Cap: £962.73m

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Sanne CEO calls time but trading remains strong

By Oliver Haill

Date: Wednesday 23 Jan 2019

LONDON (ShareCast) - (Sharecast News) - Financial sector outsourcer Sanne Group reported "strong" trading in the second half of the year and into early 2019 but revealed that its chief executive will retire in four months' time.
The FTSE 250 group, which provides outsource corporate and administration services for hedge funds and other financial institutions, said chief executive Dean Godwin would step down at May's annual shareholder meeting, with chief commercial officer Martin Schnaier appointed CEO designate with immediate effect so he can take over.

Godwin has led Sanne for seven years, in which time he floated the business in 2015 and has seen underlying operating profit swell by more than 600%.

For the past calendar year all the company would say in its pre-close statement was that performance had been "strong", with full year revenues in line with board expectations thanks to the traditional second-half weighting, where the Alternatives and Corporate businesses outperformed to offset continued headwinds for the South African hedge platform and the private client business.

As well as record new business with sales wins representing around £13m of additional annualised revenue, the second half also saw an improvement in underlying operating margins, reflecting emerging benefits from previous investment in people, processes and systems.

"This improvement remained modest however as a result of additional investment made to improve Sanne's Private Client business, as well as supporting the strong growth in the Alternatives business," it said.

As a result of the revenue and margin performance, underlying profit before tax is expected to be "broadly in line" with expectations.

The strong performance across the Alternatives and Corporate businesses in the second half has continued in early 2019, Sanne said, with the group expanding its fastest growing region, Asia-Pacific, with a new office opening in Japan this month.

"Given this strong momentum into 2019, coupled with the continued growth in levels of new business wins, the board remains confident in the group's prospects for 2019."

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Sanne Group Market Data

Currency UK Pounds
Share Price 657.00p
Change Today 24.00p
% Change 3.79 %
52 Week High 728.00
52 Week Low 468.50
Volume 304,640
Shares Issued 146.53m
Market Cap £962.73m

Sanne Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
63.67% below the market average63.67% below the market average63.67% below the market average63.67% below the market average63.67% below the market average
79.56% below the sector average79.56% below the sector average79.56% below the sector average79.56% below the sector average79.56% below the sector average
Price Trend
49.19% above the market average49.19% above the market average49.19% above the market average49.19% above the market average49.19% above the market average
48.61% above the sector average48.61% above the sector average48.61% above the sector average48.61% above the sector average48.61% above the sector average
Income
60.12% below the market average60.12% below the market average60.12% below the market average60.12% below the market average60.12% below the market average
89.87% below the sector average89.87% below the sector average89.87% below the sector average89.87% below the sector average89.87% below the sector average
Growth
21.31% below the market average21.31% below the market average21.31% below the market average21.31% below the market average21.31% below the market average
49.18% below the sector average49.18% below the sector average49.18% below the sector average49.18% below the sector average49.18% below the sector average

What The Brokers Say

Strong Buy 4
Buy 0
Neutral 4
Sell 0
Strong Sell 1
Total 9
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Sanne Group Dividends

  Latest Previous
  Interim Final
Ex-Div 17-Sep-20 23-Apr-20
Paid 16-Oct-20 20-May-20
Amount 4.80p 9.40p

Trades for 30-Sep-2020

Time Volume / Share Price
16:35 68,115 @ 657.00p
16:29 8 @ 651.00p
16:29 67 @ 655.00p
16:29 34 @ 651.00p
16:29 10 @ 654.00p

Sanne Group Key Personnel

CFO James Ireland
CEO Martin Schnaier

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