TopGun Posted 22 July, 2013 Share Posted 22 July, 2013 http://www.hl.co.uk/shares/aim-and-small-cap-news/aim-bulletin/wh-ireland-drops-as-profits-tank WH Ireland, the AIM-listed financial services group serving the smaller company market, saw shares fall sharply on Friday after the company reported that profits more than halved in its first half. Pre-tax profit totalled just £0.06m in the six months to May 31st, down from £0.19m the year before, as the bottom line was hit by £0.15m fair value losses on investments, compared with £0.07m gains previously. Group revenue rose just 3.6% to £13.1m, as an 18% increase in turnover in the Private Wealth Management division (to £1.3m) was offset by a 23.3% fall in the Corporate Broking unit (to £0.9m). "The board is pleased with the progress that has been made during the period, although this is not yet fully reflected in the group's financial performance," said Chairman Rupert Lowe. Private Wealth Management was strengthened by the acquisition of the Seymour Pierce private client business part way through the first half. This helped funds under management jumped by 31.9% during the six-month period to £2.27bn. "Despite the wider challenges that the sector faces at present, the board is pleased with WH Ireland's strong position and is optimistic about the medium and longer term growth prospects for the group," Lowe said. The stock was down 6.99% at 57.2p. Don't think I want to buy into this company! Link to comment Share on other sites More sharing options...
spyinthesky Posted 22 July, 2013 Share Posted 22 July, 2013 Looks like dear Rupes is on a downward spiral He supposedly purchased Garforth Town and reinstated his old mate Simon (25 year plan to reach the Premier League) Clifford. Looks like that has all gone pear shaped. Garforth now relegated to some Yorkshire Junior League, Clifford gone, and Rupes position and investment uncertain. Rupes really needs to rock up at Pompey to try to assist their ailing cause!!!! Link to comment Share on other sites More sharing options...
Chap in the Chapel Posted 22 July, 2013 Share Posted 22 July, 2013 Looks like dear Rupes is on a downward spiral He supposedly purchased Garforth Town and reinstated his old mate Simon (25 year plan to reach the Premier League) Clifford. Looks like that has all gone pear shaped. Garforth now relegated to some Yorkshire Junior League, Clifford gone, and Rupes position and investment uncertain. Rupes really needs to rock up at Pompey to try to assist their ailing cause!!!! I hear that Garforth's catering is as good as any club in the Northern Premier League Premier Division. Rupert knows what really gets money in the coffers and fans through the turnstiles, so I'm certain they'll bounce back up the football pyramid in much the same way that we did... Look out for news of his plans to outdo Simon Clifford by signing Hera****us... Link to comment Share on other sites More sharing options...
Chap in the Chapel Posted 22 July, 2013 Share Posted 22 July, 2013 I hear that Garforth's catering is as good as any club in the Northern Premier League Premier Division. Rupert knows what really gets money in the coffers and fans through the turnstiles, so I'm certain they'll bounce back up the football pyramid in much the same way that we did... Look out for news of his plans to outdo Simon Clifford by signing Hera****us... Who would have though that an Ancient Greek philosopher would attract the wrath of the swear filter? Link to comment Share on other sites More sharing options...
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