StockMarketWire.com - Wealth management company AFH Financial said that it expected revenue and earnings to be ahead of the last year, but warned earnings would be 'slightly below' its expectations as the inflow of new funds had been slower than anticipated amid Covid-19 restrictions.
'Due to ongoing COVID-19 restrictions and challenges of remotely interacting with prospective clients, the recovery in new business written by the wealth management division and the associated inflow of new funds has been slower than anticipated and, since May, has remained below pre-COVID-19 levels,' the company said.
The company said it expects full-year earnings before interest, taxes, depreciation, and amortization (EBITDA) to be 'slightly below its previous expectations.'
At 8:34am: [LON:AFHP] AFH Financial Group Plc share price was -20p at 305p.
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