LONDON (Alliance News) - Arden Partners PLC on Monday said it has completed six pieces of corporate business since the turn of its financial year, and is currently working to deliver several other mandates.
In January, the institutional stockbroker said it swung to a GBP2.1 million pretax loss in the year ended October 31, hit by tough conditions for the sector.
On Monday, Peter Moon, who is stepping as non-executive chairman, said that the trading environment has continued to be "extremely challenging" amid market global volatility and low transaction volumes.
Moon will be succeeded by Non-Executive Director Luke Johnson as chairman, as previously reported. The outgoing chairman's comments came at Arden's annual meeting of shareholders on Monday.
Shares in Arden were untraded on Monday. The stock closed at 31 pence on Friday.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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