9 Jan 2017 07:00
For immediate release 9 January 2017
Panmure Gordon & Co. plc
("Panmure Gordon" or the "Group")
Trading Update
Panmure Gordon (AIM: PMR), the independent institutional stockbroker and investment bank, today provides an update on trading for the year ended 31 December 2016.
Panmure Gordon is pleased to announce that trading for the twelve month period to 31 December 2016 has been in line with the Board's expectations, with revenues for the second half of the year ahead of the previously reported six months. Net revenue for the full year is expected to be approximately £27 million versus £23 million in 2015. This will result in a return to full year profitability and positive operational cash flow with the net effect of further strengthening the Group's balance sheet.
Full financial statements for the year ended 2016 are scheduled for release on 28 March 2017.
Panmure Gordon Chief Executive, Patric Johnson, commented:
"Panmure Gordon has been very active for our corporate and institutional clients throughout 2016 despite the unpredictable political and macro-economic environment. Our pipeline for 2017 is strong and, notwithstanding an uncertain market with continued political and economic uncertainty, we look forward to 2017 with measured confidence."
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014.
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Enquiries:
Panmure Gordon
Patric Johnson, Chief Executive 020 7886 2500
Buchanan (Financial PR) 020 7466 5000
Bobby Morse/Stephanie Watson panmure@buchanan.uk.com
Grant Thornton UK LLP (Nominated Adviser)
Philip Secrett/Salmaan Khawaja/Harrison Clarke 020 7383 5100