Preliminary Results for the Year Ended 31 December 2015

Shore Capital, the independent investment group specialising in capital markets, principal finance and asset management, today announces its preliminary results for the year ended 31 December 2015.

Financial highlights

  • Revenue up 3.4% to £42.0 million (2014: £40.6 million)
  • Profit before tax up 40.8% to £11.7 million (2014: £8.3 million)
  • Earnings per share up 25.5% to 27.1p (2014: 21.6p)
  • Capital of £10 million returned to shareholders during the year 

Operational highlights

  • Principal Finance division generated profit of £5.1 million primarily driven by sale of a number of radio spectrum licences in Germany to Deutsche Telekom AG
  • Capital Markets business ranked as AIM’s leading Nominated Adviser by IPO funds raised in 2015, helping clients raise £900 million during the year. Client wins include its first FTSE 100, Wm Morrison Supermarkets plc; FTSE 250 A.G. Barr; and, more recently, Dairy Crest Group plc
  • Research team maintained sixth place Extel ranking with number one rankings in insurance and retail; third place in consumer goods; and seven top five rankings 
  • Continued momentum in Puma Investments across the product range. Puma VCT 11 closed achieving the largest fundraising of its kind in the 2014/15 tax year 
  • Brandenburg Realty raised €150 million and made its first residential property acquisition

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

“In a year when markets have faced considerable uncertainty – and continue to do so – the strength of our diversified business has been evident, enabling the Group to increase revenues and profitability whilst making targeted investments and remaining cost-conscious.

“We achieved significant progress across the Group, growing client advisory services and capabilities and reaping the benefits of earlier investments.

“The UK’s capital markets faced uncertainty ahead of the General Election and failed to recover in the second half of the year. These uncertainties have carried over into the first quarter of 2016, but our liquid balance sheet and robust business model enables us to take advantage of opportunities as they arise.”

Shore Capital 2015 Annual Report and Accounts