Shore Capital Group - Counter-cyclical investment strengthens the group
Shore Capital’s (SGR’s) 2018 results were close to expectation and had a number of features that are encouraging for the future. Although Capital Markets revenue was lower reflecting the weak market in the final quarter, corporate retainers and transaction fees were up, while the market-making activity remained profitable through Q4. Asset Management made strong progress with revenue growth of over 20%. Selective counter-cyclical investment meant lower pre-tax profit but, like the purchase of Stockdale at a difficult time in the market, should help generate stronger growth and returns on equity on a medium-term view.Shore Capital Group is engaged in investment related activities, including stockbroking, market-making, corporate finance advice, asset management including specialist fund management and principal finance.
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