Proactive Investors - Run By Investors For Investors

Daniel Stewart still confident despite slide into loss

Daniel Stewart still confident despite slide into loss


Broker Daniel Stewart (LON:DAN) today became the latest small-cap focused broker to slide into the red due to weak financial markets hitting the number of company deals.

Interim losses soared to £606,000 compared to a profit of £1 million in the previous half year.

The small and medium cap specialist said the first quarter started well but the second three months from July to September proved to be particularly slow.

Timing delays were part of the problem said Stewart, which has been investing heavily in Asia. International transactions take longer to execute than similar UK or European deals, it said.

Since the half-year the broker added it had completed a number of transactions originally anticipated for the first half including several Asian listings. 

Revenue for the six months to September increased from £3.5 million to £3.6 million, but the broker said the costs of the international development were higher than planned and combined with a staff retention plan and share based payments this produced an underlying after tax loss of £144,000 against a profit of £191,000 in the previous first half.

The broker said it remains “very confident about a positive outcome for the year,” adding that its investment in Asia will assist in sustaining the business should the economic outlook in Western Europe remain bleak.


View full DAN profile View Profile

Daniel Stewart Timeline

Related Articles

December 05 2018
“I think we’re a different generation of bank that is a lot quicker on our feet, a lot quicker at reacting to what customers want and are a lot more attractive to the savings market,” PCF boss Scott Maybury said
March 12 2019
"Over the past 25 years, S&U has consistently demonstrated its ability to adapt to the kinds of economic and political uncertainty we all currently face," said chief executive Anthony Coombs.
CSE head office in Toronto
January 01 2019
Capital raised on the CSE set to increase over 500% by the end of 2018

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use