Report
Oliver Juggins

Ince Group - Interim Trading Update

Ince has generated a robust performance through this crisis, finishing the first half of its 2021 financial year with revenues 6% ahead YoY (o/w 3.6pp organic). This run rate brings the business achingly close to its pre-crisis £100m revenue target given the usual seasonality favours the second half. Whilst management offer no guidance, we are willing to go out on a limb and forecast revenue just shy of £100m on the basis of limited further COVID restrictions being put into place and comments that H2 so far is roughly in line with H2 last year. Our estimate of £99m would imply £286k of revenue per fee earner for the full year, roughly in line with 2020's £288k – which is impressive given how many new lateral hires have been made.
Underlying
Ince Group

Work Group is a Rule 15 Investing Company (cash shell).

Provider
Capital Access Group
Capital Access Group

Capital Access Group advises companies on effective engagement with investors. Our experienced team offers market-leading access with hard-to-reach investors, including smaller institutions, pension funds and private client fund managers. These under-serviced investors are located not only in London but across the regions of the UK and Europe. We have an unrivalled knowledge of this extensive audience, to whom our published research is distributed, as well as to larger institutions. We offer this service as part of an integrated investor communications strategy to promote a company’s investment story.

Our clients, ranging from AIM to FTSE 100 companies, benefit from our professional, long-term relationships with investors. Not only do we identify and target investors, we contact them directly and relay their views back to clients with analysis, interpretation and advice. This ensures that our clients are in control of their investor engagement. The objective is to improve the reach and engagement with investors, which in turn strengthens the share price.

Analysts
Oliver Juggins

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