25 March 2014
Broking and investment banking firm Panmure Gordon is set to resume paying a dividend for the first time in six years after making its first bottom-line profit since 2007.
The firm made a statutory profit of £205,000 last year against a loss of £3.5 million in 2012. But profits from continuing operations almost doubled to £1.2 million.
Chief executive Phillip Wale said investors should not expect a half-year dividend yet, but he wanted to pay a final one.
He said: “We have seen a resurgence of the IPO market and we are just entering what looks like being a really busy season. Many investors are now looking further down the market caps to find growth… There is also more appetite for tech than there is for mining.”
