News blog
Fiske
- BY: Andrew Hore |
- POSTED: 28/08/2009 |
Aim adviser Fiske fell into loss in the year to May 2009 and the outlook remains “cloudy“ despite the recent recovery in the stock market.
The broker and financial services provider reported a fall in revenues from £3.06m to £2.77m, while a profit of £433,000 was turned into a loss of £139,000. The lower revenues were compounded by a fall in interest income and a goodwill write-off of £145,000.
The second interim dividend has been cut from 3p to 2p a share.
Fiske still had cash in the bank of £3.09m at the end of May 2009 - although that includes £294,000 of money relating to client transactions.
Private clients are the core of the business but institutional business is growing.
At 74p a share, Fiske is valued at £6.24m.
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