Cenkos broker bonuses rocket as Eddie Stobart float provides foundations to wheelie good 2017

 
Oliver Gill
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Logistics firm Eddie Stobart listed on the Aim in April with the help of Cenkos

Brokers at Cenkos are set for bumper bonuses after the firm today revealed earnings had rocketed in the first half of 2017.

Sales almost doubled and earnings per share were up over 400 per cent.

Shares in the firm leapt in early trading and are currently up over 10 per cent.

Coffers at the broker were swelled by the £386m float of Eddie Stobart – which represented more than a third of all money raised in the six months to June.

Read more: Cenkos board gets another shakeup as finance director departs

Cenkos said costs would also near double from £13.7m to £25m, "due, mainly, to higher performance-related pay on the back of higher levels of net revenue".

And it wasn't just staff that were rewarded. Investors saw their interim dividend jump by 350 per cent to 4.5p per share.

"We are well placed to benefit from improvements in market conditions and have made a very good start to the second half of the year," said chief executive Anthony Hotson.

There is institutional demand to fund high-quality companies and ideas and since the period end we have been engaged in a number of significant fund raisings. Our current pipeline of transactions is encouraging.

Read more: Big names deliver investment as Eddie Stobart goes public

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