Independent corporate finance and investment advisory firm, specialising in smaller quoted and larger unquoted companies
15 June 2006
Merchant House Group plc, the AiM-quoted corporate finance and financial services group, today announces a near five-fold increase in turnover for the year ended December 2005.
The market value of the group’s quoted investments also rose to nearly £700,000 by the year end, from under £200,000 last time. Taking these at market value would raise the Company’s capital base to £1.8m five times higher than at the previous year end.
The strong performance reflected a marked increase in corporate finance activity and associated fundraisings during a year which saw the company broaden its services to its corporate clients. The Company has additionally strengthened its board structure, with the appointment of former Chairman Peter Redmond as Chief Executive, and the new arrival of former Cazenove market-maker Dan Edelman.
Alongside its policy of taking a shareholding in its AiM-quoted client companies, Merchant House is now also an OFEX adviser and has completed its first OFEX transactions, including the pre-float fundraising and market introduction of investment vehicle Allura (ticker: ALLO).
Merchant House Chairman Martin Eberhardt said: “Following the substantial changes over the past year, the directors believe that the Company is now well placed to develop its existing business and build in new directions which will hopefully enhance its offering to corporate clients and create enhanced shareholder value.”
Transactions during the year included corporate advice on AiM IPO’s, reverse takeovers and AIM secondary market issues.
Turnover for the year rose to £656,864 (2004: £142,625) and, with reductions in administrative and exceptional costs, the loss on ordinary activities before taxation fell to £385,777 (2004: £926,645).
For further information contact:
Peter Redmond, CEO, Merchant House Group plc: 020 7332 2200
Allan Piper, First City Financial Public Relations: 020 7436 7486, 07736 064 982
Merchant Capital Limited
Aldermary House
10-15 Queen Street
London EC4N 1TX
United Kingdom
Tel: +44 (0)20 7332 2200