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Daniel Stewart Securities

  • BY: Andrew Hore |
  • POSTED: 24/12/2012 |

Aim adviser Daniel Stewart Securities reported a higher interim loss but advising Sportingbet on its takeover by William Hill and GVC should help the second half.

In the six months to September 2012, revenues fell from 3.58m to 3.07m. The fall was in corporate finance revenues.

The interim loss increased from 508,000 to 998,000 with retention payments rising from 361,000 to 437,000. The first three months of the year were profitable but the additional bank holidays compounded a weak summer period. Net cash was 938,000 at the end of September 2012.

Daniel Stewart has 46 brokerships and it holds warrants in its client Quindell that are currently worth 500,000.

The market is still tough. Daniel Stewart is adviser to the planned flotation of China-based beauty and personal care products supplier Herbalcos International. This was first announced on 12 September but still has not happened. It was expected in mid October and then late November and there have not been any updates since then.

At 0.72p a share, Daniel Stewart is valued at 3.77m.

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