19th Dec 2007 09:40
Sigma Capital Group PLC19 December 2007 SGM.L SIGMA CAPITAL GROUP PLC ("Sigma") Trading Update Sigma issues the following statement ahead of its year end on 31 December 2007. In 2007, Sigma has built on its position in the sustainable energy market, whichwas established with its first fund in this sector in 2006, with the launch ofthe Sigma Sustainable Energy Fund II ("SSEF II"). This fund has currently raised£45 million with a target of £100 million. This second sustainable energy fundgives Sigma a significant position in this rapidly emerging sector and increasesits overall funds under management by 155%. The marketing of the SSEF II to new investors continues to go well and fundmanagement fees from additional monies committed following the year end will berecognised with effect from 14 June 2007 and will enhance this year's revenue. The property sector generally has experienced a downturn in the second half ofthis year, which has been well documented. We consider that there have beenrecent signs of improvement in sentiment with a stabilisation in lending ratesand more realistic seller expectations and as an investor in high qualityproperty we view 2008 as a period of opportunity. This downturn has impacted theproperty side of Sigma's business in the current year. We recently announced ourseventh property limited partnership and had anticipated a further transactionoccurring this year which will now not take place. This will have an impact onrevenue and profits. At the present time it is not possible to be definitive as to what impactadditional money raised for the SSEF II will have on Sigma's revenue and profit,but it is likely that total revenue will fall short of the market forecasts.Nonetheless earnings per share will show significant growth over last year andprospects for 2008 remain strong with further growth expected. Enquiries Sigma Capital Group plc Graham Barnet, Chief Executive T: 0131 220 9444 Marilyn Cole, Finance Director Biddicks Katie Tzouliadis T: 020 7448 1000 Arbuthnot Securities Tom Griffiths/ Neil Kirton T: 020 7012 2000 Company website: www.sigmacapital.co.uk This information is provided by RNS The company news service from the London Stock Exchange ENRelated Shares:
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