StockMarketWire.com - Fund administration services provider Sanne Group posted a 5.8% rise in annual profit, driven by strong sales growth in the US and Europe.

Pre-tax profit for the year through December rose to £23.7m, as revenue climbed 26% to £143.0m.

On an underlying basis, pre-tax profit rose 12% to £42.6m.

The company declared a full-year dividend of 13.8p per share, up 9.5% on-year.

Sanne said it expected its underlying operating profit margin to improve in 2019 after it slipped to 31.1% in 2018, down from 34.3% in 2017 following 'targeted investment'.

'2018 was a significant year of growth and evolution for Sanne,' chief executive Dean Godwin said.

'Our core businesses continued to perform strongly, particularly in EMEA and the US, and we are encouraged to see the momentum building in Asia-Pacific Mauritius.'

'Importantly, Sanne is now a business with a truly global platform and with a growing presence in the world's most attractive regions.'








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