Institutional stockbroker Pamure Gordon (AIM:PMR) announced preliminary results for the year ended 31 December 2006. Financial Highlights included net revenues up 41% to £42.4 million, adjusted profit before tax up 113% to £12.9 million and adjusted earnings per share up 17% to 15.8 pence.
Perhaps more indicative of the groups strong performance was additional productivity measures including revenue per employee up 21% to £345,000 and average daily revenues increasing by 44% to £17 million.
"2006 and the first few months of 2007 have been a very active and successful time for the business. Not only did the firm produce good financial results but, through the continued process of internal
improvement, the soon to be opened Liverpool office and the acquisition of ThinkEquity, we have established a platform for further profitable growth. The New Year has started well for us and, although markets have very recently been more volatile, our corporate finance pipeline is encouraging and our institutional equities business is performing well. While we expect to complete the acquisition by the end of March, the performance of ThinkEquity in the first months of the year and the outlook for the rest of the year is very encouraging." said Tim Linacre, CEO.