Preliminary Results for the Year Ended 31 December 2017

Strong Group performance with significant growth in revenues and profitability

Shore Capital, the independent investment group specialising in capital markets, asset management and principal finance, today announces its preliminary results for the year ended 31 December 2017.

 

Financial highlights

 

2017

(£ m)

2016

(£ m)

Change

(%)

Group revenue

41.9

39.4

6.3

Capital Markets revenue

27.2

28.3

(3.9)

Asset Management revenue

12.9

10.4

24.0

Statutory profit before tax

4.6

2.4

91.7

Statutory earnings per share

13.1p

6.0p

118.3

Adjusted1 profit before tax

6.5

5.1

27.5

Adjusted1 earnings per share

20.5p

13.4p

53.0

Final proposed dividend per share

5.0p

5.0p

-

Total dividends for the year

10.0p

5.0p

100.0

1 excluding balance sheet impairments

 

Operational highlights

  • Capital Markets enjoyed a successful year, building its retained client base and participating in a high volume of transactions
  • Capital Markets advised on three IPOs, 24 secondary fundraisings, four takeovers and added 13 new clients, including Oxford BioDynamics plc; Non-Standard Finance plc; and Mothercare plc
  • Asset Management made excellent progress, growing revenues, profits and assets under management:
  • Puma Investments grew its investment offering, launched Puma VCT 13 and its Puma Alpha EIS Service, and was named Tax-Efficient Group of the Year at 2017's Investment Week Tax Efficiency Awards
  • Institutional funds advised by the Group deployed further capital with investments in high quality real estate opportunities and Mixer Global, the premium co-working business

 

Commenting on the results, Howard Shore, Chairman, said: 

"The Group has enjoyed a year of growing revenues and profitability. Our Capital Markets business has been busy, participating in a high volume of transactions during the year and growing its franchise. Meanwhile, our Asset Management division performed very strongly, with significant uplifts in revenues and profitability."

"There are excellent opportunities to grow our Asset Management platforms and in Capital Markets, our approach to MiFID II has ensured a wide distribution of our output to the investment community, with strong support from institutional clients signing-up to take our research. Consequently, we remain optimistic about our future prospects." 

 

Shore Capital Group Limited - Preliminary Results for the Year Ended 31 December 2017

 

Enquiries:

Shore Capital

Howard Shore, Executive Chairman    +44 (0) 20 7468 7911

Simon Fine, Co-Chief Executive

David Kaye, Co-Chief Executive

Lynn Bruce, Director    +44 (0) 14 8172 8902

 

Grant Thornton UK LLP (Nominated Adviser)    +44 (0) 20 7383 5100

Philip Secrett

Jamie Barklem

 

Montfort Communications (Public Relations)     +44 (0) 78 1234 5205

Olly Scott