- Alternative asset services provider Sanne said it had posted 'strong' first-half earnings per share growth, driven by higher revenue and operating margins.

In a trading update for the six months through June, the company said it had also benefited from foreign exchange gains, but did not give specific numbers.

Revenues from existing closed-ended fund structures continued to be largely unaffected by the Covid-19 pandemic, the company said.

Still, Sanne said a significant number clients had shifted their focus towards portfolio management and away from new fund raising.

'We expect this to be temporary but it has had an impact on new fund launches, caused some delays to closing of new funds and therefore slightly dampened revenue growth, particularly during the second quarter,' it said.

'Despite prevailing conditions, the business has delivered a robust new business wins performance equivalent to over £11m of annualised new revenue.'

At 8:58am: [LON:SNN] Sanne Group PLC share price was +11p at 656p

Story provided by