Cenkos Securities shares soared Friday after reporting a 37 per cent rise in 2012 pre-tax profit, as the company pulled in new clients.
The security firm posted a pre-tax profit of £7.0m for the year to December 31st 2012, up from £5.1m a year earlier.
Revenue from continuing operations grew 16% to £43.2m from £37.4m driven by higher income from placings, corporate finance fees and commissions on market transactions.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The company raised its dividend by 50% to 7.5p from 5.0p.
"Cenkos is pleased to report that, despite the difficult economic conditions that prevailed during the period, revenues and profits are well ahead of last year," the group said in a statement.
"We continue to grow our client base and raise equity capital for our corporate clients."
Cenkos added that its pipeline was strong, with an encouraging start to 2013.
RD
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
