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Shore Capital Group Limited Release Interim 2011 Results
Hamilton, Bermuda – 19 September, 2011 – Shore Capital Group Limited (the ‘Company’; Ticker: SGR.BH), today announced the Company's interim results to 30 June, 2011.
Financial Highlights*
· Revenue from operating businesses of £19.6m (2010 H1: £18.1m)
· Profit before tax of £4.3m; £3.9m including Spectrum (2010 H1: £4.7m)
· Earnings per share of 1.02p; 0.93p including Spectrum (2010 H1: 1.10p)
· Interim dividend per share of 0.25p (2010 H1: 0.25p)
* excluding the contribution from Spectrum and DBD
Operational Highlights
· Continuing strong performance of the ECM business despite challenging environment – 11 new corporate clients
· Asset management revenues stable reflecting closed-end nature of fund products
· Acquisition of controlling interest in Spectrum Investments Limited
· Balance sheet remains strong: gross cash balance at 30 June 2011 of £43.9m providing substantial capacity to make strategic acquisitions as opportunities arise
“Our business has continued to demonstrate resilience, having delivered a strong operating performance in challenging market conditions. We have made progress on a number of fronts and are particularly excited about the acquisition of the controlling interest in Spectrum Investments, our German broadband investment.
Our balance sheet strength and liquidity should allow us to take advantage of other opportunities as they present themselves.”
Enquiries:
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Shore Capital Group Limited |
+44 (0) 20 7468 7911 |
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Richard Oldworth Jeremy Garcia, Helen Chan |
Buchanan |
+44 (0) 20 7466 5000 |
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Jonathan Hinton James Lewis |
Deloitte Corporate Finance (Nominated Adviser) |
+44 (0) 20 7936 3000 |
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Josh Critchley Martin Eales |
RBC Capital Markets (Broker) |
+44 (0) 20 7653 4000 |
Notes to Editors
Shore Capital
1. Shore Capital is an
2. Shore Capital is based in Guernsey, London, Liverpool,
3. Further information on Shore Capital, its products and services can be found at www.shorecap.gg