Preliminary Results for the Year Ended 31 December 2017
Strong Group performance with significant growth in revenues and profitability
Shore Capital, the independent investment group specialising in capital markets, asset management and principal finance, today announces its preliminary results for the year ended 31 December 2017.
Financial highlights
|
|
2017 (£ m) |
2016 (£ m) |
Change (%) |
|
Group revenue |
41.9 |
39.4 |
6.3 |
|
Capital Markets revenue |
27.2 |
28.3 |
(3.9) |
|
Asset Management revenue |
12.9 |
10.4 |
24.0 |
|
Statutory profit before tax |
4.6 |
2.4 |
91.7 |
|
Statutory earnings per share |
13.1p |
6.0p |
118.3 |
|
Adjusted1 profit before tax |
6.5 |
5.1 |
27.5 |
|
Adjusted1 earnings per share |
20.5p |
13.4p |
53.0 |
|
Final proposed dividend per share |
5.0p |
5.0p |
– |
|
Total dividends for the year |
10.0p |
5.0p |
100.0 |
1 excluding balance sheet impairments
Operational highlights
- Capital Markets enjoyed a successful year, building its retained client base and participating in a high volume of transactions
- Capital Markets advised on three IPOs, 24 secondary fundraisings, four takeovers and added 13 new clients, including Oxford BioDynamics plc; Non-Standard Finance plc; and Mothercare plc
- Asset Management made excellent progress, growing revenues, profits and assets under management:
- Puma Investments grew its investment offering, launched Puma VCT 13 and its Puma Alpha EIS Service, and was named Tax-Efficient Group of the Year at 2017’s Investment Week Tax Efficiency Awards
- Institutional funds advised by the Group deployed further capital with investments in high quality real estate opportunities and Mixer Global, the premium co-working business
Commenting on the results, Howard Shore, Chairman, said:
“The Group has enjoyed a year of growing revenues and profitability. Our Capital Markets business has been busy, participating in a high volume of transactions during the year and growing its franchise. Meanwhile, our Asset Management division performed very strongly, with significant uplifts in revenues and profitability.”
“There are excellent opportunities to grow our Asset Management platforms and in Capital Markets, our approach to MiFID II has ensured a wide distribution of our output to the investment community, with strong support from institutional clients signing-up to take our research. Consequently, we remain optimistic about our future prospects.”
Shore Capital Group Limited – Preliminary Results for the Year Ended 31 December 2017
Enquiries:
Shore Capital
Howard Shore, Executive Chairman +44 (0) 20 7468 7911
Simon Fine, Co-Chief Executive
David Kaye, Co-Chief Executive
Lynn Bruce, Director +44 (0) 14 8172 8902
Grant Thornton UK LLP (Nominated Adviser) +44 (0) 20 7383 5100
Philip Secrett
Jamie Barklem
Montfort Communications (Public Relations) +44 (0) 78 1234 5205
Olly Scott