Well placed in an uncertain environment
finnCap has reported full year results for the twelve months to the end of March 2020 in line with previous guidance. It was a period in which the uncertain political and economic environment produced low market volumes and fewer deals (which also took longer to complete). COVID-19 had little impact on these numbers but, at the beginning of April, finnCap took some significant measures to enhance its near-term cash position and strengthen its balance sheet. Subsequently, the Group has displayed a resilient performance thanks to its suite of services to companies with strong growth ambitions and the subsequent three months (Q1 of finnCap’s FY 21) have seen a significant uplift in revenue – to a level which is a record quarterly performance for the Group – as clients moved to raise funds and trading volumes picked up, although deal numbers slowed worldwide. The combination of cost control and improved performance leaves the Group with a more robust balance sheet and well placed to drive its growth strategy forward.