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Arden Partners

  • BY: Andrew Hore |
  • POSTED: 31/07/2008 |

Corporate finance income was lower than expected in the first half according to Arden Partners.

That was because the flotation of Indus Gas didn’t happen until after April. This has helped the second half to start strongly. There are a number of UK and Indian projects that are being worked on at the moment.

The broker’s revenues fell by one-fifth to £6.66m in the six months to April 2008. Profits were halved at £1.37m.

The research and trading division increased its revenues by 17%. That helped to offset some of the decline in the corporate finance division.

There is cash of £8.15m in the balance sheet. The interim dividend is maintained at 2.2p a share.

The shares were unchanged at 115p.

Arden is still in bid discussions.

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