HOW POSITIVE WERE THE FULL-YEAR FIGURES YESTERDAY FROM STOCKBROKER COLLINS STEWART?
JEREMY GRIME | ARDEN PARTNERS
Collins Stewart is delivering ahead of our expectations, with pre-tax profit of £21.8m coming in 15 per cent ahead of our forecast of £19m. It is growing its wealth management arm, has fixed the problems with the UK business and there are signs the loss-making US business may now be under control.
JUSTIN URQUHART-STEWART | SEVEN INVESTMENT MANAGEMENT
Collins Stewart’s full-year figures look good despite being slightly lower than we anticipated. This year may well be better for mergers and acquisitions work as a weaker sterling attracts overseas interest, while the wealth management division should bring in significantly more funds.
FRASER THORNE | EDISON INVESTMENT RESEARCH
Against an extremely challenging background these are impressive results. If Collins Stewart’s broking divisions can successfully move away from their historical reliance upon Aim IPOs and management use the healthy cash balance sensibly then it has the foundations to become a more stable and subsequently a much bigger group.