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Pre Close Statement

21 Mar 2011 07:00

RNS Number : 2455D
Daniel Stewart Securities PLC
21 March 2011
 



21 March 2011

 

AIM: DAN.L

 

DANIEL STEWART SECURITIES PLC

("Daniel Stewart" or "the Company")

 

Pre close statement for the year ending 31 March 2011

 

The Board of Daniel Stewart is pleased to provide the following pre-close statement for the period ending 31 March 2011.

 

Financial Highlights:

 

·; Revenues substantially up year-on-year and expected to be at least £8m (2010: £3.5m)

·; Net profit after tax and share based payments expected to be in excess of £1m (2010: £2.6m loss)

·; Raised £90m for corporate clients, (2010: £45.7m)

·; Assets under Management expected to exceed £100 million during 2011

 

Operating Review:

 

Trading for the year across all divisions has been strong and the Company is expected to report encouraging results showing substantial revenue growth and a return to profitability, despite difficult trading conditions in the sector.

 

Noteworthy corporate transactions during recent months include:

 

·; winning mandate to advise Jimmy Choo on a potential £500 million bid for the fashion house he founded;

·; successful placing for Globo PLC; and

·; IPO of Hangar8 plc, the leading private jet operator.

 

Pleasingly, the Company's secondary trading revenues have increased year-on-year and private wealth management services, albeit still in their infancy, have also progressed well.

 

Daniel Stewart now covers all sectors with a strong focus on healthcare, technology, oil and gas, mining, leisure and speciality finance. Furthermore it is the UK's leading adviser to Companies listed on the USA's OTC/QX market.

 

Peter Shea, Chief Executive commented:

 

"Our performance in the second half of this year has been extremely encouraging, following on from our improved performance in the first half. Our order book looks positive and we believe the continued uplift across all our business areas will sustain our return to profitability.

 

"I believe this is, in part, the result of our decision to expand our international business. This has proved to be an immediate success with the completion of a number of transactions in Asia, and a strengthening of our partnerships in the USA, advising companies on the OTCQX market.

 

We have entered into a new phase of growth after a difficult few years and I look forward to reporting further news in due course."

 

 

--ENDS--

 

 

Enquiries:

 

Daniel Stewart Securities PLC

Tel: 020 7776 6550

Peter Shea

Arbuthnot Securities Ltd

Tel: 020 7012 2000

Nick Tulloch

Ed Groome

Tavistock Communications

Tel: 020 7920 3150

Lydia Eades

Sonya Williams

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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