Half Year Results 

Sanne blunted by margin deterioration

Sanne blunted by margin deterioration

For Sanne's (SNN) investors, reports of a record level of new business wins and 13 per cent organic revenue growth might give the impression the alternative asset and corporate business services provider enjoyed a bumper first half. But margins are the protagonist of this story, particularly after the July update forewarned of a four percentage point contraction, which translated into a 3.1 per cent like-for-like decline in underlying operating profit. Statutory earnings were also weighed down by £13m in non-underlying costs.

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe to Investors Chronicle

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now