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Merchant Securities
- BY: Andrew Hore |
- POSTED: 21/04/2010 |
Aim adviser and investment manager Merchant Securities says that its full year profit will be significantly ahead of market expectations.
The market had been anticipating a swing from a loss of £4.58m to a profit of £400,000 in the year to March 2010. The profit will be much higher than that. Integrating Merchant Securities and John East into Merchant John East has benefited the performance last year. Corporate advisory and investment management have done well in the second half.
Revenues rose by two-fifths to £7.62m, helped by acquisitions. Net cash was £3.06m at the end of March 2010.
Merchant made an underlying profit of £289,000 on revenues of £3.27m in the six months to September 2009.
At 20p a share, up 4p on the day, Merchant is valued at £9.38m.
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