Arden Partners plc (AIM: ARDN.L), the institutional stockbroking company, today announces its unaudited results for the six months ended 30 April 2019 (the "period").
- Current political and market uncertainty continues to impact the stockbroking industry in general and
- was detrimental to the Company's first half performance
- Corporate client base continued to grow - 56 corporate clients at the period end (increased from 51 as at
- 31 October 2018). Arden has risen to 10th by number of clients in the ARL AIM Adviser rankings guide
- Wealth Management division was launched in the period. Regulatory approval has been received and
- first revenues have been generated
- Research portal, which allows the broadest possible access to Arden's corporate client research for
- potential investors and further raises the profile of Arden's corporate clients, went live during the period
- Revenue: increased by 20.2% to £3.2m (2018: £2.6m)
- Loss before tax: reduced by 30.2% to £1.6m (2018: £2.3m)
- Basic loss per share: 5.5p (2018: loss per share of 7.9p)
- No interim dividend proposed (2018: nil)
Commenting on the interim results and outlook for the Company, Chief Executive Officer Donald Brown said:
"Our first half performance reflects the continuing investor uncertainty and cautiousness towards the UK stockmarket. However, we are encouraged by the continuing progress at the Company and, in particular, the growth in its corporate client list. We believe our investments into the Group over the last two years have established a strong platform from which we can execute our ongoing growth strategy."