Gulf starts at Sheikh Adi-2 25/05/2012
Iraq-focused oil explorer Gulf Keystone Petroleum (GKP) has begun drilling at the Sheikh Adi-2 well in the Sheikh Adi block.
Prudence dents Mattioli interims
First half pre-tax profits at wealth manager and pensions consultant Mattioli Woods (MTW) have fallen 30 per cent to £1.5 million.
Chairman Bob Woods says the acquisitve Leicester-based company, which increased turnover 17 per cent to £8.7 million in the six months to November, advised clients to sit tight on their existing portfolios as the Eurozone crisis developed, which meant less profit for Mattioli but meant clients experienced annual outcomes ranging from a 2 per cent fall to a 3-to-4 per cent gain in their investments, a respectable outcome in the circumstances.
Now Woods and chief executive Ian Mattioli expect the company to suggest clients 'tweak' their portfolios, to restore the appropriate mix of shares, fixed interest, 'quality property', structured products and cash. That should make up for the investment work lost in the first six months, unless 'a major catastrophic event in Europe' sends investors running for cover again.
Woods says he expects last August's purchase of wealth management and employee benefits specialist Kudos for up to £8.7 million in shares and cash to generate annual profits of around £1.5 million once it has been fully integrated. Mattioli Woods, which has re-branded and beefed up its consultancy team, foresees a new trend for smaller sub-£250,000 Self Invested Pension Plans (SIPPs), which it says are uneconomic with typical annual fees of 3.5 per cent, to migrate to other, more appropriate platforms, thus, suggests Woods, 'crystallising opportunities' in the larger SIPPS which Mattioli Woods operates with charges of below 1 per cent.
The company, which ended November with £3.36 million cash, continues to look for acquisitions and hopes clients' renewed investment activity stimulated by its tweaking advice will enable it to 'maintain our record of revenue and profit growth for the full year.' With the interim dividend up 12.1 per cent to 1.85p, the shares yield around 2 per cent
at 211p, down 2.5p this morning, having traded between 325p and 202.5p over the past year.
Provided activity does pick up, they offer medium-term recovery prospects.
Achieve impressive returns
Gain instant access to some of the best-performing and fastest growing companies in the small cap arenaClick here
Advertisement
Achieve impressive returns on the go
Gain instant access to some of the best-performing and fastest growing companies in the small cap arena. Sign up NOW!
Institutional Investors in AIM 2011 - New Report
This unique study analyses the shareholdings of companies listed on AIM, extracting trends including rankings of the value and number of their investments.
Please click here to order your copy of the report or call 0207 250 7056.
Coverage of AIM, techMARK and PLUS Markets
Informative features and research on fast-growing companies, small-cap and growth stocks, penny shares, stock market tips and share recommendations, directors' dealings, company news and analysis, new issues and upcoming IPOs.
If you're interested in business tax updates visit our specialist tax guide website.
Latest small-cap and growth company news
Daily coverage of small-cap company stocks on London's junior markets AIM and PLUS, breaking news, stock research and latest share price information for investors. Full sector coverage with all the latest news on smaller listed companies, updated several times a day with financial reports, trading statements and links to further web resources.
Popular News
Acquisition
Acquisitions
Aim
Aim Market
Boardroom Moves
Breaking-even
British Technology
Cash
China
Commodities
Credit Crunch
Deals & Contracts
Debt
Dividend
Emerging Markets
Full List
Fundraisings
Gold
Growth Company
Growth Stocks
Loss Making
Main Market
Mergers & Acquisitions
New Issues
Penny Shares
Placing
Plus Markets
Profit Warning
Restructuring
South Africa
Speculative Punts
Technology
Trading Update
Turnaround
Undervalued
Advertisement
Latest News
Shell considers Cove 24/05/2012
Oil giant Shell is extending its offer period for Mozambique-focused Cove Energy (COV) after having its bid trumped by Thai government-owned PTT Exploration & Production.
Roxi reaches 1,360 metres 23/05/2012
Kazakhstan-focused Roxi Petroleum (RXP) has declared that its NK7 well in the Galaz aea has drilled to a depth of 1,360 metres.
Cluff Natural Resources joins AIM 22/05/2012
Steered by sector veteran Algy Cluff, North-Sea focused cash shell Cluff Natural Resources (CNR) has joined AIM.
Red Emperor exercises Shabeel 21/05/2012
Somalia-focused oil explorer Red Emperor Resources (RMP) has exercised its option to take part in the drilling of the Shabeel North well.
Heritage happy in Iraq 18/05/2012
Oil concern Heritage Oil (HOIL) has reported its Miran West-3 well in Iraq could deliver 1,000 barrels per day of condensate.
Sectors
Aerospace & Defence
Alternative Energy
Automobiles & Parts
Banks
Beverages
Chemicals
Construction & Materials
Electricity
Electronic & Electrical Equipment
Equity Investment Instruments
Financial Services
Fixed Line Telecommunications
Food & Drug Retailers
Food Producers
Forestry & Paper
Gas, Water & Multiutilities
General Financial
General Industrials
General Retailers
Health Care Equipment & Services
Household Goods
Industrial Engineering
Industrial Metals
Industrial Transportation
Leisure Goods
Life Insurance
Media
Mining
Mobile Telecommunications
Nonequity Investment Instruments
Nonlife Insurance
Oil & Gas Producers
Oil Equipment, Services & Distribution
Personal Goods
Pharmaceuticals & Biotechnology
