Sanne sees revenues surge in 2018

FTSE 250 funds and trusts administrator SANNE (LON:SNN) has seen its share price rise by 1.98% to 514p (as of 13:35 GMT) after it announced a 26.4% increase in revenues for the year ended 31st December. Profits before tax rose by 11.8% as the firm’s record new business wins outweighed a 320 basis point fall in gross margins.

Chief executive officer Dean Godwin commented: “2018 was a significant year of growth and evolution for SANNE. 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“.