19th Feb 2021 10:20
(Alliance News) - Fiske PLC on Friday said its results for the half year show a marked improvement on the prior year.
The London-based stockbroker said revenue for the six months to the end of November 2020 grew by 11% year-on-year to GBP2.8 million. This was achieved despite the severe drop in market values in the first quarter of 2020, the company highlighted.
Fiske's commission revenue was up 5% on the prior year, while its investment management fees increased by 14%.
Total assets under management have increased over the six months, with operating losses declining to GBP21,000 from GBP237,000 for the half year to November 2019.
Going forward, Fiske said much attention remains focussed on the path of the pandemic and both the monetary and financial responses. Thus, whilst the company's own operations continue to run smoothly, it said many companies have been badly affected and the economic impact is yet to be widely appreciated.
"We retain a healthy degree of caution regarding the immediate outlook for markets and will be very mindful of the likely economic impact of the virus as we progress through the year. Nevertheless, we continue to strive for further improvements in our financial results," said Chair Clive Harrison.
AIM-listed Fiske shares were trading 7.7% higher in London on Friday at 70.00p each.
By Evelina Grecenko; [email protected]
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