Shore Capital Group Limited

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

Preliminary Results for the Year Ended 31 December 2014

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 2014.

Financial highlights

• Revenue up 13.4% to £40.58 million (2013: £35.77 million)

• Profit before tax up 53.6% to £8.31 million (2013: £5.4 million)

• Earnings per share up 53.2% to 21.6p (2013: 14.1p)

• Adjusted earnings per share up 49.3% to 22.4p (2013: 15.0p)

• Aggregate dividend per share for the year of 10.0p (2013: 8.0p), of which final dividend per share of 5.0p (2012: 4.0p)

• Balance sheet remains strong with liquidity of £32.2 million, plus a further £20 million working capital facility which was unused at the year end

Operational highlights

• Equity Capital Markets continues to progress very strongly, increasing pre-tax profits by over 60% to £9.8 million (2013: £6.0 million)

• Equity Capital Markets team helped clients raise £2.4 billion during the year

• Corporate Finance completed seven IPOs, one reverse takeover, two takeovers, 10 secondary fundraisings and a number of advisory led transactions in 2014

• Ranked sixth in 2014’s Extel survey, (2013: 10th) with seven top-five market rankings

• Significant progress by Puma Investments, continuing its strong VCT performance and launching new products targeting private investors

• Puma VCT 10 closed achieving the largest fundraising of its kind in the 2013/14 tax year

• Expansion of Group’s real estate advisory business in Berlin resulting from launch of Brandenburg Realty

• Since the year end, Spectrum Investments expects to realise €12.5 million net profit after tax from the sale of national and six regional radio spectrum licences in Germany to Deutsche Telekom AG

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

“During the last year we reaped the benefits of earlier investment and development activity across our Equity Capital Markets and Investment Management businesses, achieving strong performance through growing revenues and increased profits.  

Capital markets in the UK have started the year with more caution pending the outcome of the general election, despite the major indices achieving record highs. Notwithstanding the slowdown in Equity Capital Markets activity, we are delighted with the progress made in the first quarter with the expected sale of elements of our portfolio of Spectrum licences and the investment in the launch of Brandenburg Realty. We have also raised record amounts in the 2014/15 fiscal year ending 5 April 2015 for our private client investment offerings.” 

Enquiries: 

Shore Capital

Howard Shore, Executive Chairman Lynn Bruce, Director	+44 (0) 20 7468 7911 +44 (0) 1481 728 902
Grant Thornton UK LLP (Nominated Adviser) Philip Secrett Melanie Frean	+44 (0) 20 7383 5100
RBC Capital Markets (Broker) Josh Critchley  Oliver Hearsey	+44 (0) 20 7653 4000
Bell Pottinger (Public Relations) Olly Scott Zoe Pocock	+44 (0) 20 3772 2500

 

About Shore Capital

Shore Capital is an AIM quoted independent investment group. Founded and owned by entrepreneurs, for three decades Shore Capital has been helping entrepreneurial businesses reach their full potential, find committed long term investors and develop into significant enterprises. The business offers innovative corporate advice; a leading market-making business; some of the most respected investment research available in the UK; and a diverse range of high quality investment opportunities, including its hugely successful VCTs and principal finance activities. It is a business founded on four simple values – integrity, drive, competence and trust.

The Group is based in Guernsey, London, Liverpool, Edinburgh and Berlin. Shore Capital Stockbrokers Limited, Shore Capital and Corporate Limited, Shore Capital Limited and Puma Investment Management Limited are each authorised and regulated by the Financial Conduct Authority.  Shore Capital Stockbrokers Limited is a member of the London Stock Exchange.

www.shorecap.gg

 

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SCGL Preliminary Results for the Year Ended 31 December 2014