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2009 Interim Report

Interim Results for the Six Months Ended 30 June 2009

Shore Capital Group plc, the investment bank focused on alternative asset class fund management and equity capital markets, today announces its interim results. This statement forms the Interim Management Report for the half year ended 30 June 2009:

Highlights

Six months ended 30 June	Operating Businesses	Balance sheet holdings	Total	Operating Businesses	Total including balance sheet holdings	Change
	2009	2009	2009	2008	2008	2008-2009
	£m	£m	£m	£m	£m	%
Revenue	17.75	(2.92)	14.83	13.83	13.16	12.7
Profit before tax	5.21	(2.92)	2.29	2.70	2.02	13.4
Earnings per share (pence)	1.18p	(0.79)p	0.39p	0.74p	0.57p	-31.6
Interim dividend per share (pence)			0.25p		0.25p	-

Revenue from operating businesses up 28.3%, all organic growth
ECM and Asset Management revenues rose 25.0% and 19.7% respectively
Profit before tax of £5.21m before movements on balance sheet holdings (2008 H1: £2.70m)
Strong balance sheet and good liquidity: cash balance of £47.6m
Announced agreement to acquire Puma Brandenburg
New CEO for Asset Management and senior hires in Corporate Finance; recruitment to continue as business outlook improves
Puma Hotels refinanced until 31 December 2012 on advantageous terms
Puma Sphera up 17.1% and PARF up 8.5%; Puma VCTs and St Peter Port outperformed

Howard Shore, Executive Chairman of Shore Capital Group, said:

"We are encouraged by the strong improvement of our operating businesses in the first half. Accordingly, we are accelerating the strategy of leveraging our platform by taking on high quality recruits. Furthermore, we hope to use our balance sheet prudently to take advantage of value opportunities as they arise."

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