LONDON (Thomson Financial) - UK smallcap Quayle Munro Holdings Plc.
described its first-half results as "good in parts" and said the outlook for
2009 is "one of difficulty".
For the year to end-June, the Edinburgh-based investment bank said its
full-year pretax profit fell to 6.2 million pounds from 8.2 million pounds due
to reduced contribution from sales of investments.
Revenues rose to 14 million pounds from 12.3 million pounds. Sales of
investments contributed only 42,000 pounds compared with 2.18 million pounds in
the previous year.
"We have made a good start to the current year but overall the outlook is
uncertain and we are likely to experience lower levels of activity in both
corporate finance and public finance," chief executive Peter Norris said.
The group said while is no certainty that it will be able to maintain the
run-rate of operating revenue, it is taking appropriate initiatives to deal with
the issues it faces and is investing purposefully in opportunities for future
growth.
The company recommended an unchanged final dividend of 20 pence a share,
taking the total for the year to 30 pence.
TFN.newsdesk@thomson.com
ypv/slm
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