3 Nov 2011 14:30
FOR IMMEDIATE RELEASE | 3 November 2011 |
Arden Partners plc
("Arden" or the "Company")
Trading update
Arden Partners, the institutional stockbroking company, today announces an update on trading.
The Directors announce that for the year ended 31 October 2011 the Company was meaningfully profitable after charging share based payments and restructuring costs although, it will be materially less than market guidance.
Given difficult market conditions the Directors believe that the overall result is satisfactory. The Company has a good pipeline of both UK and Indian opportunities and whilst commission income levels will remain under pressure, the Company will continue to manage and maintain its substantial cash position with overheads remaining subject to stringent control.
The Balance Sheet remains strong.
The Company will report results on 21 December 2011.
End
Enquiries:
Arden Partners plc | 020 7614 5900 |
Jonathan Keeling - Chief Executive Officer | |
Trevor Norris - Group Finance Director | |
Altium |
020 7484 4040 |
Phil Adams | |
Sam Fuller | |
Buchanan |
020 7466 5000 |
Mark Edwards | |
Nicola Cronk |