Cenkos upbeat as figures reflect faltering markets
Friday, September 19, 2008
Cenkos Securities has posted an upbeat assessment of it position at the half-year despite dire market conditions inevitably leading to falling sales and profits.
Interim revenues were down 33% to £18.9 million and pre-tax profits were down 52% to £5.5 million. An interim dividend of 5p per share was declared.
Andrew Stewart, chief executive of the AIM-listed advisory and broking firm, said that against a background of difficult markets, he was pleased with the results because they showed that Cenkos’s business model was robust and demonstrated the quality of its teams.
“I believe that these difficult conditions will continue for some time as the effects of recent events unfold,” Stewart said. “However, I have confidence that we will continue to trade profitably and indeed capitalise on opportunities that may occur in the coming months.”
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