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Shore Capital hikes FY pretax profit by 40.8%

Tuesday, 22nd March 2016
Shore Capital has hiked its FY pretax profit by 40.8% to GBP11.7m, from GBP8.3m. It returned GBP10m of capital to shareholders during the year. Revenue was at GBP42.0m, from GBP40.6m.

Chairman Howard Shore commented:

"In a year when markets have faced considerable uncertainty - and continue to do so - the strength of our diversified business has been evident, enabling the Group to increase revenues and profitability whilst making targeted investments and remaining cost-conscious.

"We achieved significant progress across the Group, growing client advisory services and capabilities and reaping the benefits of earlier investments.

"The UK's capital markets faced uncertainty ahead of the General Election and failed to recover in the second half of the year. These uncertainties have carried over into the first quarter of 2016, but our liquid balance sheet and robust business model enables us to take advantage of opportunities as they arise."

At 10:02am: (LON:SGR) Shore Capital Group PLC share price was +2.5p at 400p

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