Arden Partners 1H "Encouraging", Revenue Up 41%

LONDON (Dow Jones)--Stockbrokers Arden Partners PLC (ARDN.LN) Tuesday 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. 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. 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. Arden also Tuesday said current Chief Executive Jonathan Keeling will become deputy chairman in due course, focusing on developing the company's Indian franchise. The company said Jeremy Grime has been appointed CEO-designate with immediate effect and will take on the role fully before the end of 2010, subject to regulatory approval. -By Rachael Gormley, Dow Jones Newswires; 44-20-7842-9308; rachael.gormley@dowjones.com (END) Dow Jones Newswires June 22, 2010 02:22 ET (06:22 GMT)