24th Jul 2018 10:00
LONDON (Alliance News) - Shares in Cenkos Securities PLC fell early Tuesday after the brokerage warned that annual revenue will be materially below last year due to the absence of some unusually large fees and market volatility.
Cenkos shares were trading 12% lower at 88.75 pence each in morning trade.
The company said its second-quarter performance slowly improved; however several transactions which were expected to complete in June did not complete until July.
At this stage, the revenue pipeline for August is encouraging and second-half performance is anticipated to be stronger than the first half's performance, Cenkos added. However, annual revenue is still expected to be "materially below" 2017.
In 2017, the company recorded revenue of GBP59.5 million and pretax profit of GBP9.9 million.
The company will announce its interim results for the six-month period ended June 30 in September.
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