16 May 2012 07:00
For immediate release | 16 May 2012 |
Arden Partners plc
("Arden" or the "Company")
Trading Update
Arden Partners, the institutional stockbroking company, today announces an update on
Trading for the six months ended 30 April 2012.
The Directors are pleased to announce that trading in the first half has been better than anticipated with revenues and profitability ahead of budget.
Since the year end the Company has increased the number of brokerships to 34 and this number is expected to grow in the medium term. The average market capitalisation of our clients is now £195 million.
The pipeline for the second half of the year is encouraging, but as ever deliverability will depend on market conditions and continued uncertainty in Europe, both in political and economic terms, dictates a need for some caution.
The Board indicates that it intends to return to the dividend list from the interim period. Since the financial crisis of 2008 the Board has tightly controlled and managed the balance sheet, which has strengthened since that time and has reached a level which now allows management flexibility in decision making, whilst remaining mindful of the needs of the business.
Arden Partners plc | 0207 614 5900 |
Jonathan Keeling - Chief Executive Officer | |
Trevor Norris - Group Finance Director | |
Altium - NOMAD to Arden Partners plc | 0207 484 4040 |
Phil Adams | |
Sam Fuller | |
Buchanan | 0207 466 5000 |
Mark Edwards Nicola Cronk |