LONDON (Alliance News) - Arden Partners PLC has found reason to be "encouraged" by the performance of its equity commission business in that last few weeks, although the stockbroker cautioned of pressure on the sector as a whole.
"We have been encouraged in recent weeks at the level of equity commission business that has been transacted by our team and although broker commissions in the sector undoubtedly remain under pressure, there continue to be fertile areas for the active broker to seek out," Peter Moon, non-executive chairman, said in a statement prepared for the company's annual general meeting.
Moon also said Arden has made hires at a senior level in its corporate finance business in a move to broaden its advisory services.
The shareholders' meeting is due to begin at 1100 GMT.
Arden shares were untraded on Thursday morning. The stock closed at 51 pence per share on Wednesday.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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