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Merchant Securites

  • BY: Andrew Hore |
  • POSTED: 08/12/2009 |

Aim adviser Merchant Securities has moved into profit in the six months to September 2009 and management expects to build on this progress. 

Revenues were 37% higher at 3.27m, while a loss of 582,000 was turned into an underlying profit of 289,000. Funds under management were 70% higher at 152m.

Net cash was 2.2m at the end of September 2009.

Merchant John East Securities is the new name for the core trading business. All the operations will be moved to one office in the middle of next year. The Aim advisory business was the adviser to online market research provider ToLuna when it acquired Greenfield Online. That was named AIM Transaction of the Year.

At 11p a share, Merchant Securities is valued at 5.16m.

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