Shore Capital, the independent investment group specialising in capital markets, asset management and principal finance, has announced its results for the year ended 31 December 2022.
Commenting on the results, Howard Shore, Chairman, said:
The Group has recorded revenues of £61.5m and pre-tax profits of £5.7m for the year ended 31 December 2022, delivering basic earnings per share of 14.3p.
In a year that has been marked by significant macroeconomic headwinds and geopolitical instability, we have continued to see the value of our diversified business model.
Our Asset Management business has continued to record excellent inflows, as well as securing a new £300 million institutional funding line in our Puma Property Finance division and delivering a market-leading performance in our flagship evergreen Venture Capital Trust.
Our Capital Markets business has inevitably been impacted by the material weakening of investor sentiment during the year, but has nonetheless acted on a number of significant capital raisings and M&A transactions, including one of the few IPOs in 2022, as well as securing several high-quality new retained corporate clients.
Notwithstanding the drop in revenue in our Capital Markets business as a result of market conditions, for the first time in the group’s history, Asset Management revenues have exceeded Capital Markets revenues, demonstrating the benefits of our diversified business model.
Shore Capital +44 (0) 20 7468 4050
Simon Fine, Co-Chief Executive
David Kaye, Co-Chief Executive
Andrew Whittaker, Non-Executive Director +44 (0) 14 8172 4222
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