News blog

Merchant Securities

  • BY: Andrew Hore |
  • POSTED: 19/12/2010 |

Broker and wealth management services provider Merchant Securities grew profit in line with expectations in the six months to September 2010 even though revenue growth was slower than hoped.

Revenues grew from 3.27m to 3.84m with the growth coming from wealth management and an increase in corporate transactions. Institutional broking revenues were flat even though the market had fallen by one-third. The underlying pre-tax profit jumped from 289,000 to 524,000.

There are 205m of funds under management and more of these funds have been converted to a discretionary basis. Merchant Securities has eleven managed funds. The upcoming Retail Distribution Review will provide opportunities.

All the corporate finance and broking activities have been integrated under the Merchant Securities brand. The move to new offices in Gresham Street will enable further expansion.

House broker Arden forecasts an improvement in full year revenues from 5.4m to 7.6m. Arden expects a full year profit of 600,000. 

Net cash was 2.4m at the end of September 2010.

At 23.5p a share, Merchant Securities is valued at 11m.

Download the December edition of AIM Journal at http://www.hubinvest.com/AIMPDFDecember2010_15.pdf

© 2022 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds