RNS Number : 6839U
  Evolution Group PLC
  19 May 2008
   

    
    19 May 2008
    The Evolution Group Plc
    (the "Evolution Group", the "Group", the "Company")
    Interim Management Statement

    Evolution Group, the listed investment bank and private client investment management group, today presents its first Interim Management
Statement ("IMS") for the financial year ending 31 December 2008, as required by the UK Listing Authority's Disclosure and Transparency Rule
4.3. This relates to the period from 1 January 2008 to today's date.

        
    Group performance 

    As indicated in our Preliminary Results announcement on 19 March 2008, the Group continues to trade profitably and develop in line with
our plans. 

    We continue to see strong recurring income from our Evolution Securities'1 secondary franchise with market shares being maintained
across the FTSE sectors and our number one position on the AIM market of the LSE retained for agency and total business. 

    We have executed some notable IPO's this year and our primary business is more active than it has been for some time. In addition we
have been appointed to act as broker to ten new corporate clients so far this year. We remain confident for the remainder of 2008.  

    Williams de Broe2 has seen continued momentum in new intermediary fund sales, with net inflows of £167m in the first quarter (Q1 07:
£135m), an increase of 24%. The recent office opening in Edinburgh provides an additional significant growth opportunity for this business
and we have received a very positive reaction from our staff and new clients. We see continued significant growth in assets under management
in the medium term.

    Evolutions Securities China3 has seen a strong performance from its Hong Kong operations. Performance in its London based primary
franchise is mixed.


    Financial position

    The Group's financial position continues to be strong and save for the opening of the new Williams de Broe Edinburgh office in April,
disclosed above, there have been no material events or transactions affecting the Group. The maintenance of a strong and liquid balance
sheet continues to be core Group policy. This provides the necessary financial strength and flexibility in times of market uncertainty and
enables us to grasp opportunities should they present themselves. The strength of our balance sheet has been maintained through the
effective management of working capital in trading portfolio assets and net trade receivables. In addition, we have taken the appropriate
decisions to adjust our cost base in the light of the current market conditions.


    Outlook

    The Group continues to be well positioned in the current market environment. Evolution Securities and Evolution Securities China
continue to operate in line with our expectations and Williams de Broe is well positioned for significant growth in assets under management
and the resultant revenue gains this will provide. 

    














 
            
    Notes

    1The results of Evolution Securities are defined as those arising from Evolution Securities Limited ("ESL") and its subsidiary Evolution
Securities (US) Inc. ("ESUS").
    2The results of Williams de Broare defined as those arising from Williams de BroLimited ("WdB"), Williams de BroManagement Company
Limited and from WDB Capital Limited, including the consolidated results of the WDB Capital UK Equity Fund.
    3The results of Evolution Securities China are defined as those arising from Evolution Securities China Limited ("ESCL") and its
subsidiary Evolution Watterson Securities Limited ("EWSL").


    Forward looking statements

    This interim management statement may contain forward-looking statements with respect to the financial condition, results, operations
and businesses of the Evolution Group plc. Such statements and forecasts involve risk and uncertainty because they relate to events and
depend upon circumstances that will occur in the future. There are a number of factors that could cause actual results or developments to
differ materially from those expressed or implied by forward-looking statements and forecasts. Forward-looking statements and forecasts are
based on the Directors' current view and information known to them at the date of this statement. The Directors do not make any undertaking
to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Nothing in this
interim management statement should be construed as a profit forecast.


                    -Ends-




    For further information, please contact:

 The Evolution Group Plc                 020 7071 4300
 Alex Snow, Chief Executive Officer
 Tony Lee, Company Secretary


 Bell Pottinger Corporate and Financial  020 7861 3232
 Charles Cook
 Mike Davis

    Notes to Editors:


    The Evolution Group Plc

    The Evolution Group is the holding company of Evolution Securities Limited, Williams de Bro Limited and Evolution Securities China
Limited. Founded in April 2001 and originally listed on AIM, the Evolution Group joined the Official List in 2003 and now has a market
capitalisation of over £230 million.

    Evolution Securities Limited is a leading investment bank focused on mid-cap UK public companies. It provides a full range of investment
banking services including equity research, institutional sales and trading, market making and corporate finance advice. Evolution
Securities Limited has over 80 retained corporate clients. It is authorised and regulated by the Financial Services Authority.

    Williams de BroLimited is a leading private client investment manager, with offices in Bath, Birmingham, Bournemouth, Edinburgh, Exeter,
Guildford and London. Williams de Brois authorised and regulated by the Financial Services Authority.

    Evolution Securities China Limited is a specialist Chinese investment banking business with offices in London, Hong Kong and Shanghai.
It offers UK based institutional clients research and trading in listed Chinese stocks and provides Chinese companies access to the markets
in London and Hong Kong. Evolution Securities China Limited is authorised and regulated by the Financial Services Authority.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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