Marechale Capital reports losses in half-yearly

Marechale Capital reported Thursday an interim loss in its half-yearly results as the investment banking and corporate finance business tackles the uncertainty in equity markets.

The London-based company released its results for the six months ending September 30th, revealing revenue of £140,682, down from £237,319 reported in the comparative period the prior year.

The group unveiled a loss of $156,044 compared to £85,817 in losses for the same period in 2011.

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"Similar to last year, we report an interim loss, albeit higher than budget," the company said in a statement.

"The first six months of the current year have been challenging because, whilst Marechale has a steadily increasing number of growing businesses and funds as clients that it advises and acts for, the economic sentiment generally, and uncertainty in the equity markets in particular, has made fundraising difficult with projects taking longer to complete."

The company is confident business will perk up with a number of projects in the pipeline and with the completion of transactions with firms including Duncan Baird, Rex Restaurants and Traccr.

Marechale is expecting deals to pick up in December as it has its highest number of engaged finance corporate finance projects to date, including the launch of a new £30m renewable energy EIS fund to which the company is acting as an on-going adviser.

RD