News blog

Hume Capital Securities

• BY: Andrew Hore |
• POSTED: 28/12/2014 |

Aim broker Hume Capital Securities reported flat revenues of £6m in the year to August 2014 but the loss was lower. 

The loss fell from £3.66m to £2.72m. Hume is still waiting for the full benefit of £2.75m of annualised cost savings, mostly made n the fourth quarter, and that should mean that the loss will be much lower this year. Net debt was £817,000 at the end of August 2014. A further £1.25m of debt has been raised.

Even so, more cash is required. Existing shareholders and providers of loans to the company David Taylor and the KB Foundation will provide finance for the short and medium time. Further details should be released in the first quarter of 2015.

The asset management division has £130m under management and believes it can win more funds.

At 0.11p a share, Hume is valued at £2.34m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFDecember2014_63.pdf