Skip to main content

This page includes Regulatory news filings supplied by issuers listed on the BSX. Please note the BSX is not responsible for the content, accuracy or completeness of announcements filed by issuers and disclaims all liability for any loss arising from reliance on information contained within issuer announcements.

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

 

Howard Shore, Executive Chairman of Shore Capital, said:

 

“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:

 

Howard Shore

 

Shore Capital Group Limited

+44 (0) 20 7468 7911

 

Richard Oldworth

Jeremy Garcia, Helen Chan

Buchanan

+44 (0)  20 7466 5000

 

 

 

 

Jonathan Hinton

James Lewis

Deloitte Corporate Finance

(Nominated Adviser)

+44 (0) 20 7936 3000

 

 

 

Josh Critchley 

Martin Eales

 

RBC Capital Markets (Broker)

+44 (0) 20 7653 4000

 

Notes to Editors

 

Shore Capital

 

1. Shore Capital is an AIM-listed independent investment group.  It specialises in principal finance, equity capital market activities and alternative asset management.  The Equity Capital Markets division (“ECM”) offers a wide range of services for companies, institutions and other sophisticated clients, including corporate finance, stockbroking and market-making.  Shore Capital Limited manages specialist funds, with a particular focus on alternative asset classes.

 

2. Shore Capital is based in Guernsey, London, Liverpool, Edinburgh and Berlin.  Shore Capital Limited, Shore Capital Stockbrokers Limited and Shore Capital and Corporate Limited are each authorised and regulated by the Financial Services Authority.  Shore Capital Stockbrokers Limited is a member of the London Stock Exchange.

 

3. Further information on Shore Capital, its products and services can be found at www.shorecap.gg