13th May 2005 07:00
Crosby Capital Partners Inc13 May 2005 CROSBY CAPITAL PARTNERS INC. QUARTERLY SUMMARY - THREE MONTHS TO 31 MARCH 2005 13 May 2005 Crosby Capital Partners Inc. (the "Company" and, together with its subsidiaries,the "Group" or "Crosby") announces its unaudited trading figures for the threemonths ended 31 March 2005. HIGHLIGHTS • Total Revenue of US$8.1 million (Q1 2004:US$0.7 million). • Pre-tax profit of US$4.7 million (Q1 2004:US$1.4 million loss). • Profit attributable to shareholders of US$4.9 million (Q1 2004:US$1.4million loss). About Crosby Capital Partners Crosby, with dual headquarters in London and Hong Kong, was established in 1984and is now Asia's leading independent investment banking and asset managementfirm. Crosby has a substantial and diversified client base in Asia, the MiddleEast and Europe. Crosby's merchant and investment banking arm has been providing clients withfinancial advice for over two decades. Crosby has the professional expertise toexecute complex financial transactions comparable to a top tier globalinvestment bank whilst still retaining the responsiveness, independence andfocus of a smaller firm. In recent years, Crosby's merchant banking armleverages the experience, expertise, and the extensive network of our seniorinvestment banking team by partnering with our clients to create uniquesolutions to reform their capital structures or create and unlock value forshareholders. Crosby's asset management arm has been managing innovative investment funds,across a wide range of asset classes, in both the public and the private arenassince 1986. Crosby's newly formed wealth management arm acts as an independentinvestment advisor to high net worth clients. The wealth management arm operatesin partnership with a major Swiss bank which provides support services and safecustody for client assets. www.crosby.com For further information on Crosby please contact: Simon Fry, Chief Executive Officer in London on +44 (0)207 590 2800Martin Angus, Chief Finance Officer in Hong Kong on +852 2169 2800 Trading Summary Unaudited three Unaudited months ended three months ended 31 31 March March 2005 2004 US$'000 US$'000 Turnover 1,498 499Other revenue 6,629 211 Total revenue 8,127 710 Administrative expenses (3,204) (1,780)Distribution expenses (18) -Other operating expenses (464) (323)Finance costs - Profit/(loss) from operations 4,441 (1,393) Amortization of goodwill - (41)Share of profits/(losses) of associates 218 (3) Profit/(loss) before and after taxation 4,659 (1,437) Minority interests 220 - Profit/(loss) attributable to shareholders 4,879 (1,437) Earnings/(loss) per share - Basic 2.07 cents (0.72 cents) This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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