Cenkos Securities profits fall after difficult second half

2011 was a year of two halves for financial services firm Cenkos Securities, with the low level of corporate activity in the second half of the year taking its toll on the company's profits.

2011 was a year of two halves for financial services firm Cenkos Securities, with the low level of corporate activity in the second half of the year taking its toll on the company's profits.

Revenue fell 25.3% from £58.5m in 2010 to £43.7m in 2011, while profit before tax dropped by 9% from £6.6m to £6.0m. te sharp differential in the rats of decline is largely down to a sharp fall in performance related pay.

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