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Hume Capital Securities

  • BY: Andrew Hore |
  • POSTED: 28/05/2014 |

Hume Capital Securities says that its broking operations made a positive contribution at the interim stage but it is still losing money. 

Interim chief executive Jonathan Freeman says that the second half should show further improvement. Freeman took over from Nitin Parekh as chief executive at the beginning of May.

In the six months to February 2014, costs have been reduced and revenues grew from 2.9m to 3.5m, even though wealth management revenues were lower. This meant that the loss declined from 1.92m to 692,000. There was 441,000 in the bank at the end of February 2014. Further finance is being sought.

Hume stopped making markets in shares after the end of the period. Additional business has been won by the wealth management business.

The share price is unchanged at 0.14p.

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