7th Jul 2005 07:00
Evolution Group PLC07 July 2005 Evolution Group Plc Trading Update During the first half of 2005 the Group continued to build on the strongprogress made during 2004 resulting in a first half performance in line with ourexpectations and significantly ahead of the equivalent period in 2004. Evolution Securities, the Group's middle market investment banking business, sawgood performance across all divisions and was particularly driven by recordfunds raised for clients in the six month period. Christows the Group's private client stockbroking and portfolio managementbusiness has continued to increase its funds under management to record levels,with a corresponding increase in profitability. As previously announced the Group disposed of its remaining interest in IP2IPOGroup Plc during the period realising £52.8 million. The Group has completedsignificant on-market share buy backs in line with plans outlined at theannouncement of its full year results. At the period end the Group retains avery strong balance sheet with significant cash balances. The Company intends to announce its half year results on 7 September 2005 Ends Enquiries: The Evolution Group Plc 020 7071 4300 Alex Snow, Chief ExecutiveGraeme Dell, Finance Director Bell Pottinger Corporate & Financial 020 7861 3232Charles CookSarah Landgrebe Notes to Editors The Evolution Group plc is a leading mid-market integrated investment bank("Evolution Securities") and private client fund management group ("Christows")listed on the FTSE 250 with a market capitalisation of approximately £300million. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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