July 25, 2019 / 6:17 AM / 4 months ago

BRIEF-Arden Partners H1 equities revenue down 36.3% amid tough UK market

July 25 (Reuters) - Arden Partners PLC:

* POSTS H1 EQUITIES UNIT REVENUE OF £0.4M FOR PERIOD (2018: £0.6M), A DECLINE OF 36.3% ON COMPARATIVE PERIOD

* SAYS PERFORMANCE IS REFLECTIVE OF PREVAILING UNCERTAINTY IN UK MARKET AND REDUCED TRADING ACTIVITY AMONGST OUR PREDOMINANTLY LONG-ONLY INSTITUTIONAL CLIENT BASE

* SAYS PAYMENTS FOR RESEARCH SHOWED A SMALL DECLINE IN LINE WITH A GENERAL REDUCTION IN BUDGETS ACROSS ASSET MANAGEMENT COMMUNITY

* SAYS WE EXPECT RESEARCH PAYMENTS FOR FULL FINANCIAL YEAR TO MAINTAIN TREND OF PERIOD UNDER REVIEW

* SAYS SECOND HALF OF OUR FINANCIAL YEAR HAS HAD AN ENCOURAGING START. WE HAVE TRADED PROFITABLY AND SEEN INCREASED CLIENT ACTIVITY, NEW BUSINESS ENQUIRIES AND SUCCESSFUL EXECUTION OF TRANSACTIONS

* SAYS OUR PIPELINE OF POTENTIAL CORPORATE FINANCE WORK IS ENCOURAGING, BOTH FOR M&A OPPORTUNITIES, AND FOR LARGER CAPITAL RAISING PROJECTS Source text for Eikon: Further company coverage: (Reporting By Simon Jessop)

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