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Cenkos Securities dividend up 50% as profits swell

By BFN News | 09:00 AM | Friday 23 March, 2018


Cenkos Securities said pre-tax profits rose to £10m in the year to the end of December, up 97% from £5.1m the previous year as several large deals supported corporate finance and placing fees growth. The firm proposed a final dividend of 4.5p per share, taking the total dividend for the year to 9.0p per share, up 50% from 6.0p per share. Revenues rose 36% to £59.5m and basic earnings per share rose by 181% to 13.2p. Net assets rose 9% to £29.7m from £27.2m the previous year. The firm said the implementation of MiFID II has 'gone well'. This recent market volatility impacting investor sentiment, weighed on the firm's performance in the second half of 2017. Chief executive Anthony Hotson said: 'We live in an uncertain geopolitical environment where market volatility has a significant impact upon investor sentiment. With a resilient business model and being ranked as one of the leading brokers in London for Growth companies and investment trusts, we look forward to the future with cautious optimism.' At 9:00am: (LON:CNKS) Cenkos Securities PLC share price was -10p at 107.5p Story provided by StockMarketWire.com

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