By Elena Vardon
London, UK – Alpha Financial Markets Consulting, a leading provider of specialist consultancy services, announced today that it anticipates a decline in net fee income growth and core earnings for fiscal 2024. The company cited intense competition and longer sales cycles as the main factors contributing to these expected results.
According to the company’s projections, it is expected to achieve a net fee income growth rate of 5% for the 12-month period ending on March 31. This comes after an impressive 44% surge in net fee income during fiscal 2023, which amounted to £227.2 million ($286.2 million).
Alpha Financial Markets Consulting also stated that it foresees adjusted earnings before interest, taxes, depreciation, and amortization to range between £42 million and £43 million. This figure represents a decrease from the previous year’s earnings of £46.6 million.
Luc Baque, the Chief Executive Officer of the company, expressed optimism about the market’s recovery but acknowledged that it has been slower than initially expected. He attributed this slow progress to the ongoing rebalancing of supply and demand within the market.
Despite these challenges, Alpha Financial Markets Consulting has continued to experience strong client demand and record higher sales wins in recent months. This positive trend is expected to be sustained moving forward.