News blog
Fiske
- BY: Andrew Hore |
- POSTED: 13/02/2008 |
Stockbroker Fiske increased its profits in the six months to November 2007 despite the tougher market conditions.
Pre-tax profits rose from £338,000 to £400,000. This has prompted the company to increase its interim dividend from 2p to 2.5p a share.
Corporate finance business was weak but broking commissions and investment management fees increased.
Management remains cautious about the short-term outlook for the markets. It doesn’t have any exposure to any problematic investment products but it believes that the knock on effect of other financial companies’ exposure to them will continue to dent confidence until the full extent of the losses is clear. Potential acquisitions are being sought but Fiske can’t find any that make good business sense.
Fiske believes that the simplification of CGT rules should be good news for its clients.
At 82.5p, the company is valued at £6.89m.
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