WHIreland Regulatory News (WHI)

30 Nov 2005 14:30

W.H. Ireland Group PLC30 November 2005 WH Ireland Group plc ("the Company") Pre-close Trading Statement WH Ireland Group plc, the financial services company which is the parent companyof WH Ireland Ltd, Stockbrokers and AIM corporate finance specialists, and WHIreland Financial Services Ltd, the independent financial adviser, is issuingthis trading update prior to the commencement of its close period. The Company'spreliminary results for the year ending 30 November 2005 will be issued inFebruary 2006. Once again, the Board anticipates being able to report recordresults for the year. The Company has continued to make good progress during the second half of thefinancial year, which has seen unaudited turnover for the 11 months to 31October 2005 increase by almost one-third over the figure for the same periodlast year. In this period, funds under management have risen to £361 million, anincrease of 24% since the previous year end. As anticipated, market conditions in the second half of the financial year havebeen less buoyant than in the first half, albeit still satisfactory. As aconsequence, results for the full year will meet market expectations. The acquisitions that the group has made which have extended our stockbrokingoperations have been successfully integrated into the group. Our expanded Londonoffice has moved into newly refurbished premises in the City which provide animproved working environment, additional facilities and the capacity for furthergrowth. In July, we purchased a 51% interest in D.J.Carmichael, a stockbroker andcorporate finance adviser based in Perth, Australia. We are pleased with theperformance to date of this acquisition and look forward to building a closerrelationship with our new Australian colleagues. The financial services subsidiary has also had a record year and is expandingits operations. The corporate finance division has again enjoyed a very successful year, havingacted as Nominated Adviser or Broker in 25 AIM admissions and undertaken 13secondary fundraisings. Work in progress in this area remains strong. Wecurrently act as Broker to 70 public companies and continue to hold a valuableinterest in the equity of certain companies for which we have acted. Ultimate Finance Group plc, our associate company continues to make goodprogress and declared its maiden profit during the year. We continue to examine a number of opportunities to expand the business and havestrengthened our management team to be able to take full advantage ofopportunities as they arise. We remain confident that in stable market conditions the strategy we arepursuing will deliver further growth in the coming year. For further information contact: WH Ireland Group plc, Laurie Beevers Chief Executive Tel: 0161 832 6644 Biddicks Financial PR, Zoe Biddick Tel: 020 7448 1000 This information is provided by RNS The company news service from the London Stock Exchange