3rd Jan 2025 10:22
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.
Current stock price: 2.50 pence each
12-month change: down 55%
By Tom Budszus, Alliance News slot editor
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