Preliminary Results - Year Ended 31 October 2015

Arden Partners plc

("Arden" or the "Group")

Results for the year ended 31 October 2015

Arden Partners plc (AIM: ARDN), the institutional stockbroking company, today announces results for the year ended 31 October 2015.

Financial highlights

· Revenue £5.5 million (2014: £8.0 million)

· (Loss)/profit before tax (£2.1) million (2014: £0.08 million)

· Underlying (loss)/profit before tax* (£1.8) million (2014: £0.15million)

· Basic (loss)/earnings per share (10.8p) (2014: 0.5p)

· Capital adequacy ratio 392% (2014: 445%)

* Profit before tax as adjusted for the effect of share based payments and reorganisation costs

Operational highlights

· Luke Johnson appointed to the Board, as a Non-Executive Director, April 2015

· Funds raised for clients £44m

· Retained corporate clients 42

Commenting on the results and Arden's outlook, Peter Moon, Chairman, said:

"Although Arden has struggled to capitalise on its strong institutional and corporate client base to increase market share in these challenging times, the book of mandated business since the year end has increased substantially and we are confident that work in progress will be converted to profitable business as the year progresses".

Arden Partners plc 020 7614 5900

James Reed-Daunter - Chief Executive Officer

Steve Wassell - Chief Operating Officer

Altium 020 7484 4040

Sam Fuller

Chairman's Statement

The trading environment continues to be extremely difficult.

Secular forces continue to reduce income from secondary trading and therefore place a greater emphasis on primary and corporate deals as drivers of profitability. We are continuing to position ourselves to take on this changing landscape.

Arden has struggled to capitalise on its strong institutional and corporate client base to increase market share in these challenging times. Additionally, industry reorganisation and restructuring has proceeded at a slower pace than we would have expected which has resulted in sub-standard returns across the sector.

Whilst this is not a time to be complacent, Arden's strong balance sheet puts us in a good position to continue making necessary changes to our model, thus allowing the firm to generate shareholder returns in the long term.

The board and management are determined to make the changes required to put Arden in a favourable position to take advantage of future opportunities.

Since the year end the book of mandated business has increased substantially and one high profile transaction has been completed. We are confident that work in progress will be converted to profitable business as the year progresses.

Given the calibre of the staff we have and their commitment to achieving results I am sure that Arden has a long and successful future ahead of it and thank everyone for their contributions in the past year.

I will be stepping down as a director and Chairman of Arden at the next AGM after five years on the board and Luke Johnson will take on the role. It has been an enjoyable, testing but stimulating period during which I have received strong support from the entire team at Arden, I thank them warmly for that and wish them and the company every good fortune in the future.

Peter Moon

Chairman

Chief Executive's Statement

After a slower than expected first half, as referred to in my interim statement, the encouraging start to the second half failed to maintain momentum which in turn has led to a disappointing out-turn for the full year.

However, Arden continues to be managed tightly and we continue to make the changes necessary to adapt to evolving market conditions.

2015 has continued to see investment in personnel to further strengthen our product offering and client service. The team is focussed to maximise revenues in traditional areas, but also to add other growth sectors to our portfolio.

Financial Review

Revenue in the year ended 31 October 2015 was £5.5m compared to £8.0m in 2014. The underlying loss before taxation, which is stated before charging share-based payments and reorganisation costs, was £1.8m and compares to a profit before taxation in 2014, of £0.15m.

The basic loss per share was 10.8p compared to earnings per share of 0.5p in 2014.

The Board has continued its programme of buying back the Company's shares in order to enhance shareholder value, under the authority granted by the Shareholders. During the year ended 31 October 2015, the Company purchased 2,425,019 ordinary shares for a consideration of £1.1m. Of these purchases 2,330,130 shares were cancelled and the total share capital reduced accordingly.

At the financial year end the Company held 455,976 ordinary shares of 10 pence each in Treasury. The total cost of these shares was £0.3m.

Outlook

Although market conditions continue to be challenging, with volatile global markets and commodity concerns in 2016, continuing the trends of the latter months of 2015, Arden has already booked a number of transactions in its new financial year and is working to complete further mandates from its healthy pipeline of corporate business.

With a strong balance sheet and a strong Board we continue to work hard to deliver shareholder value for the longer term.

Finally, I would like to take this opportunity to thank our staff for their commitment through a challenging period.

James Reed-Daunter

Chief Executive Officer

Consolidated Statement of Comprehensive Income

For the year ended 31 October 2015

Consolidated Statement of Financial Position

At 31 October 2015

Consolidated Statement of Cash Flows

For the year ended 31 October 2015

Consolidated Statement of Changes in Equity

For the year ended 31 October 2015

Notes

1. The capital redemption reserve represents the nominal value of shares that have been cancelled that were previously held as Own Shares.

2. Own Shares represents shares purchased to be held as treasury shares at historical cost.

3. The Employee Benefit Trust reserve represents shares held in the parent Company by the Arden Partners Employee Benefit Trust which is consolidated in the Group's financial statements.

In the prior year 343,168 ordinary shares were issued from the employee benefit trust to satisfy employee share options.

NOTES

1) Basis of preparation

The financial information set out in this announcement has been prepared in accordance with the recognition and measurement principles of IFRS as endorsed for use in the European Union.

The financial information set out in this announcement does not constitute the Group's statutory accounts for the year ended 31 October 2015 or the year ended 31 October 2014 under the meaning of s434 Companies Act 2006, but is derived from those accounts.

Statutory accounts for the years ended 31 October 2015 and 31 October 2014 have been reported on by the Independent Auditors.

The Independent Auditors' Report on the Annual Report and Financial Statements for the years ended 31 October 2015 and 31 October 2014 was unqualified, did not draw attention to any matters by way of emphasis, and did not contain a statement under 498(2) or 498(3) of the Companies Act 2006.

Statutory accounts for the year ended 31 October 2014 have been filed with the Registrar of Companies. The statutory accounts for the year ended 31 October 2015, prepared under IFRS, will be delivered to the Registrar in due course.

2) Revenue

Revenue is wholly attributable to the principal activity of the Group and arises solely within the United Kingdom.

Included within revenue of the Equities Division is a loss of £287,000 (2014: loss £538,000) relating to the fair value adjustment of derivatives held within assets that are fair valued through profit or loss.

The Directors are of the opinion that there are only two operating segments and while segment revenues are reviewed internally business resources are not allocated to segments for the purposes of deriving either profit or assets. In 2015 one of the Group's customers contributed more than 10% of the Group's revenue, the amount was £914,000. In 2014 none of the Group's customers contributed 10% or more of the Group's revenue.

3) Earnings per Share

In addition to the basic earnings per share, underlying earnings per share has been shown because the Directors consider that this gives a more meaningful indication of the underlying performance of the Group. Where applicable, all adjustments are stated after taking into consideration current tax treatment ignoring deferred tax.

The 1,480,700 (2014: 1,480,700) shares held by the Arden Partners Employee Benefit and the 455,976 (2014: 461,087) shares held in Treasury have been excluded from the denominator.

No adjustment has been made to the diluted loss per share of 10.4p as the dilution effect of the weighted average number of outstanding share options of 840,385 would be to decrease the loss per share.

4) Annual Report and Accounts

Copies of the 2015 Report and Accounts will be posted to shareholders in due course. Copies will also be available from the Company's registered office and from the Company's website.