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UPDATE: Arden Partners Eyes Indian Promise As CEO Steps Down

Tue, 22nd Jun 2010 11:44

(Adds executive comments, analyst comments and share price.) By Rachael Gormley Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Stockbrokers Arden Partners PLC (ARDN.LN) Tuesday increased its focus on the burgeoning Indian market, as Chief Executive Officer Jonathan Keeling announced plans to become deputy chairman in order to concentrate on developing the company's franchise in the sub-continent, citing "immense demand." Keeling told Dow Jones Newswires there is "huge interest" in the London market from India and said it has an initial public offering from a "decent sized" Indian support services company that he hopes will complete in the second half. The company said Jeremy Grime from Arden's financials team has been appointed CEO-designate with immediate effect and will take on the role fully before the end of 2010, subject to regulatory approval. The stockbroker reported an "encouraging" first half, with revenue increasing 41% and the pretax loss narrowing slightly, and said it was well placed for growth and profitability from both the U.K. and Indian markets. "I'm reasonably optimistic about the second half, as we've got a significant pipeline of corporate transactions," Keeling said. "So long as the markets are ok, our pipeline will be delivered." For the six months ended April 30 Arden posted a pretax loss of GBP240,000 compared with a pretax loss of GBP278,000 in the same period a year earlier. The company invested in extra staff during the period, Arden said. Revenue increased to GBP6.5 million from GBP4.6 million while net assets rose to GBP12.3 million from GBP10.3 million. The company won't be paying an interim dividend. Altium analysts kept a "hold" rating and a 110 pence target price on the company following the results, saying that while Arden's corporate finance pipeline is strong, uncertainty over market conditions continues to push back mandates to later periods. At 1038 GMT, shares flat at 88.5 pence, while the wider FTSE AIM index was down 0.5%. -By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308; rachael.gormley@dowjones.com (END) Dow Jones Newswires June 22, 2010 06:44 ET (10:44 GMT)
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25 Jul 2019 13:22

Arden Partners First Half Loss Narrows Amid Uncertain Market

(Alliance News) - Stockbroker Arden Partners PLC on Thursday posted a narrowed first half pretax loss on the back of higher revenue generation, but said trading was impacted by political and the

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20 Mar 2019 13:47

Arden Partners Grows Corporate Client Base Despite Challenging Market

LONDON (Alliance News) - Arden Partners PLC on Wednesday said it has continued to grow its corporate client base, a key part of its strategy.This was achieved despite market conditions with

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24 Jan 2019 09:38

Arden Partners Sinks To Annual Loss Despite Second Half Improvement

LONDON (Alliance News) - Arden Partners PLC held its full-year dividend flat Thursday after revenue fell and it sank to a loss amid tough conditions, despite profitability returning in the second

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14 Jan 2019 14:37

Arden Partners launches new wealth management division

(Sharecast News) - Arden Partners announced the launch of Arden Wealth Management - its new wholly-owned and FCA-approved wealth management subsidiary on Monday, as well as the creation of a new wealth management division within the Arden group.

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14 Jan 2019 09:05

Stockbroker Arden Partners Establishes New Wealth Management Unit

LONDON (Alliance News) - Arden Partners PLC on Monday said it formed a new wealth management unit and has recruited a former Brewin Dolphin Holdings PLC executive to manage and develop the stock a

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4 Jan 2019 14:45

Steve Douglas becomes Arden Partners finance director

(Sharecast News) - Institutional stockbroking company Arden Partners confirmed on Friday that it has received FCA approval for the appointment of Steve Douglas to its board as group finance director.

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1 Nov 2018 12:25

Arden Partners Appoints New Chair And Finance Boss In Board Refresh

LONDON (Alliance News) - Stockbroker Arden Partners PLC said Thursday it has appointed a new chairman and finance boss alongside a non-executive appointment amid a refresh of the board.Mark

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1 Nov 2018 09:14

Arden Partners makes Mark Ansell's chairmanship permanent

(Sharecast News) - AIM-listed stockbroker Arden Partners has tapped Mark Ansell to take up the role of chairman on a full-time basis.

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1 Nov 2018 09:14

Arden Partners makes Mark Ansell's chairmanship permanent

(Sharecast News) - AIM-listed stockbroker Arden Partners has tapped Mark Ansell to take up the role of chairman on a full-time basis.

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30 Jul 2018 12:16

Arden Partners Interim Loss Widens On Restructuring, Team Expansion

LONDON (Alliance News) - Arden Partners PLC on Monday said its loss widened in the first half of its current financial year as it invested heavily in restructuring the business.The company

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15 Jun 2018 10:50

RA International And Anexo Group To Raise Funds For June AIM Listing (ALLIPO)

LONDON (Alliance News) - RA International Group PLC is placing to raise GBP97.2 million through an initial public offering of 173.6 million shares at 56.0 pence each.The company provides in

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24 May 2018 15:39

Stockbroker Arden Partners Says Luke Johnson Steps Down As Chairman

LONDON (Alliance News) - Stock broker Arden Partners PLC said Thursday that Luke Johnson has stepped down as chairman with immediate effect due to other commitments for the serial entrepreneur and

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2 Aug 2016 16:07

DIRECTOR DEALINGS SUMMARY: Arden Partners Chair And Deputy Buy Shares

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2 Aug 2016 10:45

DIRECTOR DEALINGS: Arden Partners Chairman And Deputy Buy Shares

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7 Mar 2016 14:35

Arden Has Completed Six Bits Of Business Since Financial Year End

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