Profits fall at broker Arden

Elizabeth Fournier
STOCKBROKER Arden Partners revealed a 50 per cent fall in pre-tax profits yesterday, as chief executive Jonathan Keeling blamed the Eurozone crisis for “challenging” trading conditions.

Pre-tax profits fell from £1.2m to £600,000 in the six months to 30 April, on revenues that slipped to £5.6m from £7.4m a year earlier. During the period it took a one-off hit of £400,000 for share payments and reorganisation costs. The firm also said yesterday it would pay an interim dividend of 0.65p per share.