News blog
Cenkos Securities
- BY: Andrew Hore |
- POSTED: 28/09/2011 |
Aim adviser Cenkos Securities has improved its performance in the first half despite tough market conditions but it warns that activity levels have slowed in the second half.
Cenkos believes that if the tough conditions continue it may prompt the consolidation in the broking market that has been talked about for some time.
Revenues improved from £25.1m to £28.5m in the six months to June 2011 with all the growth coming from the corporate finance operations. Revenues from institutional share trading halved and wealth management revenues also fell. Pre-tax profit nearly tripled to £5.33m.
Cenkos is paying a 4p a share interim dividend which is the same as the total for last year. There was £19.2m in the bank at the end of June.
At 83p a share, up 9p, Cenkos is valued at £56.8m.
Cenkos was voted ‘AIM broker of the year’ at the Growth Company Awards 2011.
Download the September 2011 edition of AIM Journal at http://www.hubinvest.com/AIMPDFSeptember2011_24.pdf
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