PMR: Panmure Gordon & Co.Plc: Trading update
UK Regulatory Announcement
Panmure Gordon & Co. plc
Panmure Gordon & Co. plc (“Panmure Gordon”), the independent institutional
stock broker and investment bank, is pleased to issue a trading update for the
year ended 31 December 2012.
As in the first half, Panmure Gordon’s continuing business was profitable in
each month of the second half in spite of continued low market-wide trading
volumes. Final full year profitability in our continuing business will have
been primarily driven by much improved corporate transaction revenue. Costs
remain carefully controlled. This, together with the recovery in corporate
transaction revenues, has enabled the firm to develop new revenue generating
business lines and to make a provision for bonus payments to key staff.
Panmure Gordon chief executive, Phillip Wale, commented:
“In a consolidating market, we have capitalised on our position of strength to
expand our services and client base. We were delighted to hire a leading
investment funds team, which has steadily helped us to gain a significant
number of new listed clients, rising from 72 at the half year to 98 today.
Despite challenging market conditions, we helped our clients to raise more
than £340 million. We completed four IPOs and a number of other client
mandates including two cross-border M&A transactions.”
“With no debt, a strong capital base, and the continued support of our major
investor QInvest, we have a sound platform from which to seize opportunities
to further strengthen and develop our business.”
Panmure Gordon will be announcing its preliminary results for 2012 in the week
commencing 18 March 2013.
Ed Warner, Chairman 020 7886 2500
Phillip Wale, Chief Executive 020 7886 2500
Nathaniel Webb, Communications Director 07584 172297/020 7886
Steffan Williams 020 7307 5332
Simon Evans 020 7307 5330
Grant Thornton Corporate Finance
Gerry Beaney/Salmaan Khawaja/Jen Clarke 020 7383 5100
Panmure Gordon & Co.Plc
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