London, 29 September 2015 – Panmure Gordon & Co. plc (“Panmure Gordon” or “the Group”), a leading independent stockbroker and investment bank, today announces its results for the first half ended 30 June 2015.

Financial highlights

  • Pre-tax loss of £0.2m (H1 2014 profit: £2.0m)
  • Post-tax loss of £0.2m (H1 2014 profit: £1.6m)
  • Loss per share of 1.09p (H1 2014 Earnings per share: 10.00p)
  • Debt free balance sheet

Operational highlights

  • Net commission and trading income increased 6.0% to £5.7m (H1 2014: £5.4m)
  • Charles Stanley Securities acquired on 15 July
  • Number of Group clients has consequently increased to 142 from 124 at December 2014
  • Group now additionally provides clients with Fixed Income brokerage and strengthened mergers and acquisitions expertise

Phillip Wale, Chief Executive, commented:

“The first half of the year has been challenging on account of external political and economic factors such as the UK election, disruptive market volatility in China and the political and economic fallout from Greece. Despite these challenges, I am pleased with the number of corporate transactions completed, which in total is similar to the number in 2014 though many of these executed were smaller in total value.

We are delighted to welcome our new colleagues that have joined as a result of the acquisition of Charles Stanley Securities and look forward to working successfully together in the future.

It is encouraging to see our pipeline of corporate transactions continuing to build in number and quality on account of the management changes made in the year, the sector based approach adopted across the Group and the focus on origination of transactions. Although the timing of their completion is difficult to forecast due to prevailing market conditions, we remain confident in our ability to deliver an excellent level of service for our clients.” 

Enquiries:

Panmure Gordon

Phillip Wale, Chief Executive

Philip Tansey, Chief Financial Officer 020 7886 2500

Buchanan (Financial PR) 020 7466 5000

Mark Edwards

Helen Chan

Stephanie Watson

Grant Thornton UK LLP (Nominated Adviser) 020 7383 5100

Philip Secrett/Salmaan Khawaja/Jen Clarke