Interim Management Statement (6953G)
17 Maggio 2011 - 8:00AM
UK Regulatory
TIDMEVG
RNS Number : 6953G
Evolution Group PLC
17 May 2011
Embargoed until 7.00am 17 May 2011
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 announces its first Interim
Management Statement for the financial year ending 31 December
2011, as required by the UK Listing Authority's Disclosure and
Transparency Rule 4.3. This relates to the period from 1 January
2011 to today's date.
Group performance
Despite ongoing tough market conditions, the Group was
profitable in the first quarter of 2011. Group total income was in
line with Q4 2010 levels, whilst operating expense run rates were
reduced significantly.
Private Clients(1)
The strong growth of Williams de Broe continued, with Funds
under Management, income and profits all increasing on Q1 2010.
Total Funds under Management have grown to GBP6.2bn at the end
of April, up 7% from GBP5.8bn at 31 December 2010. This compares to
an increase of 0.7% in the FTSE APCIMS balanced and All Share
indices over the same period. Net organic growth since December
2010 of GBP314m has been exceptional, and in addition, acquired
inflows contributed significantly, adding a further 1 % in the
period (3.1% annualised) to overall Funds growth.
Investment Banking(2)
To date in 2011, Evolution Securities Limited ("ESL") has acted
on seven capital market transactions, against five in the
comparable period in 2010, although the lack of large transactions
closing has resulted in Q1 2011 corporate income being lower than
Q4 2010.
During the period, ESL has also been appointed as broker to nine
new corporate clients, the same as in the comparable period in
2010. Additionally, the average size of its client list has
continued to improve.
The pipeline of current corporate business remains strong,
including four IPOs, further retail bond mandates, secondary equity
raisings and a growing number of debt and equity advisory
opportunities.
Secondary market equity and fixed income commissions increased
from Q4 2010 run rates in Q1 2011, which coupled with significant
reductions to the business's operating expense run rate, resulted
in an improved result for the business as a whole compared to the
second half of 2010.
Financial position
The strength of the Group's balance sheet has been maintained by
continuing to manage operating expenses to ensure profitability.
There have been no material events or transactions affecting the
Group.
Notes
(1) The results of Private Clients are defined as those arising
from Williams de Broe Limited, WDB Asset Management Limited and
from WDB AssetMaster Management Company Limited.
(2) The results of Investment Banking are defined as those
arising from Evolution Securities Limited, its subsidiary Evolution
Securities (US) Inc. ("ESUS") and Darwin Strategic Limited
("Darwin").
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
Alex Snow, Chief Executive Officer
Andrew Westenberger, Finance Director 020 7071 4300
Attila Consultants 020 7776 8825
Charles Cook, Senior Partner
Notes to Editors:
The Evolution Group Plc
The Evolution Group is the holding company of Evolution
Securities Limited, Williams de Broe Limited and Evolution
Securities China Limited. Founded in April 2001 and originally
listed on AIM, the Evolution Group joined the LSE Official List in
2003; the Group currently has a market capitalisation of
approximately GBP160 million.
Evolution Securities Limited is a leading investment bank
focused on UK mid cap 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 Broe Limited is one of the UK's leading and fastest
growing private client investment managers, with offices in Bath,
Birmingham, Bournemouth, Edinburgh, Exeter, Guildford and London.
Williams de Broe 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
END
IMSFMGMKVVMGMZM
Grafico Azioni Evgen Pharma (LSE:EVG)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Evgen Pharma (LSE:EVG)
Storico
Da Lug 2023 a Lug 2024