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Sanne's margins dip

Sanne's margins dip

Acquisitions remain a core part of Sanne’s (SNN) growth strategy, with the group purchasing Luxembourg Investment Solutions in February and Madrid-based AgenSynd earlier this month. A five-month contribution from the former boosted revenue for the asset management support services specialist during the first half, but associated costs weighed on margins. Coupled with investments in improving operating efficiency, underlying operating margin declined to 30.3 per cent, from 37.1 per cent at the same time last year.

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