The company noted the completion of a number of significant fund raising transactions in the back end of last year, albeit most of the year was dogged by Brexit and election uncertainty.
“Whilst still early in the year, the company is encouraged with the strength of its pipeline and is pleased to report that the momentum that took place in the fourth quarter in 2019 is continuing into the new year,” the stockbroker said in a trading statement ahead of its financial results.
“The confidence in our pipeline is reflected in the board's expectation of announcing a final dividend when it releases its results for the year ended 31 December 2019, in late March 2020.”
Summarising 2019, the broker repeated prior warning of challenging market conditions and the unfavourable backdrop for its business. In response, Cenkos cut costs – with a non-recurring spend of £1.4mln on a restructuring to save £3mln of annual fixed costs.
The company said it was profitable in the second half, and, it expects full year results to show it was profitable over the full year.
"With levels of new issues and IPOs for Growth Companies being at an unprecedented low in 2019, it is testament to the quality of our staff and the strength of our model that we were able to maintain our record of having been profitable every year since incorporation,” Jim Durkin, Cenkos chief executive.
“Market conditions may still be impacted by factors outside our control but we have started 2020 well and we look forward to the year ahead."
Separately, Lisa Gordon has been appointed as the company’s new chair.