(Alliance News) - WH Ireland Group PLC on Monday said it will close its loss-making Henley office by May as it enters an agreement to allow Verso Wealth Management Ltd to market its services to some Henley clients. Read More
WH Ireland Group PLC - London-based wealth-management firm - On December 13, reports that pretax loss in the six months to September 30 narrows to GBP1.2 million from GBP3.9 million a year prior. Revenue falls 16% to GBP5.3 million from GBP6.3 million. Notably, WH Ireland reports a gain from discontinuing operations of GBP900,000, compared to a loss of GBP2.1 million a year earlier. Administrative costs reduce to GBP7.6 million from GBP7.9 million. Total assets under management contract to GBP1.1 billion from GBP1.2 billion. The company notes a "challenging market backdrop". Chief Executive Officer Phillip Wale says: "We have an improved chance of returning Wealth Management to a break-even position following the cost reductions over the last year, supported by a more stable financial position, and without anticipating any potential improvement in our markets." Looking ahead, WH Ireland says further cost reductions are underway as it plans to assess strategic opportunities as they arise. Read More
(Alliance News) - WH Ireland Group PLC on Monday reported a wider loss in its recent financial year, partly reflecting the costs of its major restructuring, as the company moves ahead as a pure wealth-management firm. Read More
WH Ireland Group PLC - London-based wealth management - Completes sale of its Capital Markets division to Zeus Capital Ltd. Discussions for the sale were first confirmed by WH Ireland back in May, with an agreement put in place by early June. At the time, WH Ireland said Zeus will pay up to GBP5 million in deferred consideration for the business, which acts as a stock broker and nominated adviser to London-listed companies. It has 125 corporate clients, makes markets in up to 200 stocks, and has 90 employees. The business booked a GBP2.5 million pretax loss on GBP12.3 million in revenue in the financial year that ended March 31, 2023. Read More
(Alliance News) - WH Ireland Group PLC on Monday said its Irish subsidiary has conditionally agreed to sell its Capital Market division to Zeus Capital Ltd, saying it now will focus on its Wealth Management division. Read More
(Alliance News) - Equities in London kicked off an abbreviated trading week with gains on Wednesday, on continued US interest rate optimism at the end of 2024. Read More
(Alliance News) - WH Ireland Group PLC on Wednesday said its loss widened substantially as revenue dropped in its latest financial year. Read More
(Alliance News) - Stock prices in London opened in the green on Wednesday, as hopes for US interest rate cuts in the new year continued to propel global equities higher. Read More
(Alliance News) - Stocks in London were expected to make gains at Wednesday's market open, as investors continued to pin their hopes on US interest rate cuts. Read More
(Alliance News) - Lifesafe Holdings PLC on Thursday said it had raised GBP400,000 through a placing and subscription of 2.5 million new shares. Read More
(Alliance News) - AMTE Power PLC announced on Tuesday that it intends to appoint administrators after failing to raise funds to continue trading. Read More
(Alliance News) - WH Ireland Group PLC on Thursday said it has appointed a new non-executive chair and non-executive director, allowing three independent non-executive directors to leave as previously announced at the end of July. Read More
(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News: Read More
(Alliance News) - WH Ireland Group PLC on Friday said it raised GBP4.9 million from a share placing and will use the fresh cash to fund a cost-cutting exercise and retention bonuses, as well as to meet regulatory capital requirements. Read More
(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Friday. Read More
WH Ireland Group PLC - London-based stock broker and wealth manager - Says trading in second half of financial year was below previous management expectations, amid a "lack of transactional activity across capital markets throughout 2022, which has continued into 2023". WH Ireland now expects to report an underlying loss before tax "in excess of" GBP2.2 million for the financial year that ended on Friday, on about GBP26 million in revenue. In financial 2022, WH Ireland reported a pretax profit of just GBP8,000 on GBP32.0 million in revenue. Read More
(Alliance News) - Stocks in London closed the week in the red on Friday, as disappointing economic data weighed on a market mood already bruised by interest rate hikes during the week. Read More