• First-half revenue increased 18 per cent to £42.4mn
• Adjusted cash profit up 17 per cent to £11.2mn
• EPS increased 14 per cent to 5.7p
• 16 per cent return on capital on acquisitions
Interim results from Fintel (FNTL:228p) benefited from the contribution of complementary acquisitions, but the provider of compliance, business and technology services to financial intermediaries still delivered decent mid-single-digit organic revenue growth.
As part of its strategic transformation, Fintel has simplified its operating structure to transition from three divisions (intermediary, distribution, and fintech and research) to a streamlined model comprising two core divisions: software and data, and services. It follows the investment in 11 businesses over the past two financial years, spanning service-led, data-driven and software-based offerings in line with the group’s strategy to build IP, capability and scale in core markets. The reorganisation aligns complementary capabilities, teams and customer propositions, so driving operational and cost efficiency.