22nd Sep 2015 08:47
LONDON (Alliance News) - Institutional broker Cenkos Securities PLC on Tuesday posted sharp declines in pretax profit and revenue for the first half against tough comparables and amid lower activity levels on London's AIM market.
Cenkos said its pretax profit fell to GBP18.6 million in the half to the end of June from GBP23.5 million a year earlier, adding that its performance in 2014 was its strongest half ever and so this year's figures are competing against a tough comparable.
Revenue also fell, down to GBP53.1 million from GBP65.2 million, due to lower levels of fundraising and activity on the AIM market, which mean its performance-related pay fell in the half.
The company said it will pay an interim dividend of 7.0 pence per share, flat year-on-year.
"We have made a good start to the second half of the year. There continues to be institutional demand to fund high quality companies and ideas. Since July we have been engaged in relation to a number of significant fundraisings and our current pipeline is encouraging," said Chief Executive Jim Durkin.
Cenkos shares were up 3.8% to 173.90 pence on Tuesday morning.
By Sam Unsted; [email protected]; @SamUAtAlliance
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