Shore Capital Group Limited – Final Results Dec 2013

Shore Capital Group Limited

(“Shore Capital”, the “Group”, or the “Company”) 

Preliminary Results for the Year Ended 31 December 2013


Shore Capital, the independent investment group specialising in equity capital markets, principal finance and alternative asset management, today announces its preliminary results for the year ended 31 December 2013.

Financial highlights

  • Revenue up 9.0% to £35.8 million (2012: £32.8 million)
  • Profit before tax up 113.8% to £5.4 million (2012: £2.5 million)
  • Earnings per share up 72.0% to 14.1p (2012: 8.2p*)
  • Adjusted earnings per share up 82.9% to 15.0p excluding costs relating to share options (2012: 8.2p*)
  • Aggregate dividend per share for the year of 8.0p (2012: 5.0p*), of which final dividend per share of 4.0p (2012: 5.0p*)
  • Balance sheet remains strong with liquidity of £43.1 million, plus a further £20 million working capital facility which was unused at the period end

adjusted to reflect the share reorganisation that took place in December 2013

Operational highlights

  • Equity Capital Markets operations continued to perform well, increasing pre-tax profits by 19.4% to £6.0 million (2012: £5.1 million)
  • Named by Thomson Reuters StarMine as Europe’s third most productive broker for 2013
  • Corporate Finance completed 30 transactions in 2013; starting 2014 with a very strong pipeline
  • Puma Investments brand established, targeting private investors, receiving FCA authorisation in May 2013
  • Puma VCT 9 closed achieving the largest fundraising of its kind in the 2012/13 tax year
  • Increase of holding in German Telecoms business Spectrum Investments Limited to 59.26%

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

“Our business has continued to perform strongly, growing revenues and more than doubling profits. We have seen increased confidence returning to our markets as entrepreneurial management teams running businesses at all stages of development look to raise growth capital.”

“Based on the strong trading across the Group and our pipeline, the Board looks to the future with confidence.”



Shore Capital 2013 Final Results.pdf