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Cenkos pre-tax profits fall 78%

By BFN News | 07:33 AM | Friday 31 March, 2017


Cenkos Securities' pre-tax profits fell to £4.4m in the year to the end of December -78% down from £19.9m last time. Revenues were 43% lower at £43.7m and basic earnings per share fell by 83% to 4.7p. Chief executive Jim Durkin said: "Our successful strategy of being a leading UK institutional broker to growth companies and investment funds has led to us being profitable in every single year of operation and this continued into 2016. "Since our first equity raise in 2005 we have raised almost £16 billion of equity capital for our clients. "Excluding the revenues associated with a large fundraising completed in 2015, 2016's revenues fell 12% to £43.7 million on the back of lower equity fundraisings for our corporate clients in first half of 2016. "There continues to be good institutional demand to fund high quality companies and ideas. "I am pleased that we remain ranked as one of the leading brokers in London for growth companies. "Since the start of this year we have been engaged in a number of fund raisings for clients and our current pipeline is encouraging." Story provided by StockMarketWire.com

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