22nd Mar 2021 09:29
(Alliance News) - Cenkos Securities PLC on Monday hailed its positive 2020 results as the beginning of a "new era" for the stockbroking firm.
Cenkos shares were 11% higher at 74.00 pence each in London on Monday morning.
In 2020, revenue rose 23% to GBP31.9 million from GBP25.9 million. Pretax profit soared to GBP2.3 million from GBP145,000 in 2019.
Cenkos upped its annual payout by 17% to 3.5p per share from 3.0p.
"The strength of UK equities during 2020, and in particular the AIM market, has shown the opportunity for ambitious companies to raise the money to fund their growth through the London capital markets. Last year the AIM index was up 21%, significantly outperforming the FTSE All Share index," Cenkos said.
"Over the same period the average Cenkos deal increased shareholder value by significantly more, underlining our position as the partner for success with corporate and institutional clients."
Looking ahead, Non-Executive Chair Lisa Gordon added: "I believe the 2020 results represent the start of a new era for Cenkos, during which I expect to see the firm grow strongly, in both size and reputation. We may not be the biggest, but we are determined to be the best."
By Eric Cunha; [email protected]
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