21st May 2014 10:24
LONDON (Alliance News) - Panmure Gordon & Co PLC said Wednesday it has made encouraging progress during the year to date after entering 2014 "stronger that at any point in many years," with the firm planning to reintroduce dividend payments next year, if market conditions and profitability are maintained in its full-year.
In a statement released ahead of the firm's annual general meeting Wednesday, board Chairman Ed Warner said that the company continues to make encouraging progress, building on its improved results in 2013, resulting from "decisive management action to re-structure and re-focus the business, allowing it to take advantage of more favourable market conditions."
Since the start of the year, the Panmure Gordon & Co has enjoyed strong growth in revenues in both the primary and secondary markets, in particular leading a number of high quality transactions for corporate clients, leading to the desired positive effect on profitability, said the company.
"We entered 2014 stronger than at any point in many years," said Warner, adding that, as indicated at the time of the announcement of its 2013 results, the company plans to resume the payment of dividends in 2015, should market conditions and the firm?s profitability be maintained for the full-year.
Shares in the company last traded at 150.5 pence per share.
By Alice Attwood; [email protected]; @AliceAtAlliance
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