W.H. Ireland Group PLC
30 November 2005
WH Ireland Group plc
Pre-close Trading Statement
WH Ireland Group plc, the financial services company which is the parent company
of WH Ireland Ltd, Stockbrokers and AIM corporate finance specialists, and WH
Ireland Financial Services Ltd, the independent financial adviser, is issuing
this trading update prior to the commencement of its close period. The Company's
preliminary results for the year ending 30 November 2005 will be issued in
February 2006. Once again, the Board anticipates being able to report record
results for the year.
The Company has continued to make good progress during the second half of the
financial year, which has seen unaudited turnover for the 11 months to 31
October 2005 increase by almost one-third over the figure for the same period
last year. In this period, funds under management have risen to £361 million, an
increase of 24% since the previous year end.
As anticipated, market conditions in the second half of the financial year have
been less buoyant than in the first half, albeit still satisfactory. As a
consequence, results for the full year will meet market expectations.
The acquisitions that the group has made which have extended our stockbroking
operations have been successfully integrated into the group. Our expanded London
office has moved into newly refurbished premises in the City which provide an
improved working environment, additional facilities and the capacity for further
In July, we purchased a 51% interest in D.J.Carmichael, a stockbroker and
corporate finance adviser based in Perth, Australia. We are pleased with the
performance to date of this acquisition and look forward to building a closer
relationship with our new Australian colleagues.
The financial services subsidiary has also had a record year and is expanding
The corporate finance division has again enjoyed a very successful year, having
acted as Nominated Adviser or Broker in 25 AIM admissions and undertaken 13
secondary fundraisings. Work in progress in this area remains strong. We
currently act as Broker to 70 public companies and continue to hold a valuable
interest in the equity of certain companies for which we have acted.
Ultimate Finance Group plc, our associate company continues to make good
progress and declared its maiden profit during the year.
We continue to examine a number of opportunities to expand the business and have
strengthened our management team to be able to take full advantage of
opportunities as they arise.
We remain confident that in stable market conditions the strategy we are
pursuing will deliver further growth in the coming year.
For further information contact:
WH Ireland Group plc, Laurie Beevers Chief Executive Tel: 0161 832 6644
Biddicks Financial PR, Zoe Biddick Tel: 020 7448 1000
This information is provided by RNS
The company news service from the London Stock Exchange