Institutional stockbroker with Scottish HQ in Edinburgh reports robust numbers

Cenkos Securities, the institutional stockbroker, has flagged a solid start to the current year after posting a robust set of full-year numbers.

The firm, whose Scottish operation is headquartered in Edinburgh and headed by Neil McDonald, said it remained confident in its business model and track record of “successful fundraising at every stage of the market cycle”, while acknowledging the volatile economic backdrop.

Releasing 2021 results showing a 47 per cent increase in underlying profits to £5.9 million, Cenkos noted: “The broadly positive conditions from 2021 are not taken for granted as we turn our attention to 2022.

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“The war in Ukraine with its horrendous personal cost to those involved is having a significant effect on global economies and markets. The lingering effects of Covid-19 on the labour market and supply chains could also impact growth and market recovery.”

Neil McDonald, head of Scotland at Cenkos Securities.
Neil McDonald, head of Scotland at Cenkos Securities.
Neil McDonald, head of Scotland at Cenkos Securities.

Revenues of £37.2m were up 18 per cent on the year before.

The firm proposed a final dividend of 3p, up from 2.5p, giving a full-year dividend of 4.25p, an increase of 21 per cent.

Cenkos Securities chief executive Julian Morse said: “During the year, we have added 17 new companies to our client list.

“Our investment company and trading company client base is well spread across multiple sectors and UK and other geographies. During 2021 we supported a diverse range of companies raising money on the equity markets, from builders’ merchants and music royalty businesses to smart fabrics and oncology diagnostics.

“With a broad pool of knowledgeable, committed investors, we partner with our clients to articulate investment cases and reduce risk in the fundraising process.”

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Cenkos Securities hails Scottish input as clients raise £1 billion

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