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Daniel Stewart Securities

  • BY: Andrew Hore |
  • POSTED: 15/04/2015 |

Aim adviser Daniel Stewart Securities says that the suspension of its shares for more than five months hit its trading. 

Clients held off on deals and there were additional costs relating to the refinancing and restructuring of the business. In the year to March 2015, revenues dipped from £4.2m to £3.9m, while the loss was reduced from £1.46m to £850,000.  The broker believes that it still has enough regulatory capital.

Daniel Stewart says that it has won six new clients in recent weeks, which includes two potential flotations.

The share price had fallen back after its sharp raise following Rob Terry’s acquisition of a 7.4% stake in the broker. The share price recovered 0.33p to 1.28p following the trading statement.

AIM Journal March 2015 available.

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