CVH.L Share Price (CVH)

http://www.investegate.co.uk/Article.aspx?id=201104040700121972E

It never fails to surprise me how many of these big risers - 35% today - don't have any followers. There's a lot out there making bigger rises than a lot of the oils and mining stocks that everyone puts so much faith in!!!

RNS Number : 4481M Cavanagh Group PLC 25 May 2010      Cavanagh Group plc   ("Cavanagh" or "the Group")   Unaudited preliminary results for the year ended 31 December 2009   Cavanagh Group plc, one of the leading firms of Independent Financial Advisers, announces its unaudited preliminary results for the year ended 31 December 2009.   Financial Highlights   ·    Revenue down by 8% to £16,077,000   ·    Pre tax profit up nearly fourfold to £782,000   ·    EBITDA of £1,572,000 up 26% (2008: £1,248,000)   ·    Net cash generated from operations £1,871,000 up 50% (2008: £1,247,000)   ·    Net debt (borrowings less cash) reduced to £402,000 from £2,174,000   ·    Average revenue per adviser at £244k remains one of the highest in the Industry     Andrew Fay, Chief Executive, commented: "2009 has seen Cavanagh continue to meet its aim to build an efficient and profitable model that delivers a high level service to our client base of private clients and Corporate firms. Our ability to manage the significant changes in market conditions has improved our trading performance quite significantly and at a time when we have also invested in the development of our future client proposition."   Cavanagh Group plc Andrew Fay (Chief Executive) 01444 475400   Brewin Dolphin Investment Banking (NOMAD) Andrew Emmott                                  08452134730 CHAIRMAN'S STATEMENT   Financial Results   I am pleased to report Cavanagh's results for the year ended 31 December 2009, which show profit before amortisation and tax expense of £1,277,381 up 64% (2008: £779,502) on revenue of £16,077,540 (2008: £17,502,485). Earnings before interest, depreciation, amortisation, tax and share based payment ("EBITDA") were up 26% at £1,571,604 (2008: £1,248,633) generating cash from operations of £1,870,501 (2008: £1,247,387) which has enabled the Group to further reduce its net debt to £401,686 at 31 December 2009 (2008: £2,173,777).   Following the instability experienced in the global financial markets during 2008 and subsequent UK recession in 2009, I consider these results reflect the stability and robustness of Cavanagh's business model.   Operations   At a time of economic turmoil and the consequent reticence of investors to move out of cash deposits we are pleased to report that at the end of the first full year of our discretionary fund management service, Cavanagh Asset Management, has now seen from its launch over £136m of a