Trading update 2015
Group and Divisional Performance
The overall business has had an extremely successful 2015, with provisional un-audited year-end numbers highlighting substantial increases in both revenues and profits, and a strong balance sheet, with shareholders’ funds rising by over 45%.
During the year, the Company raised £500,000 from existing and new investors from the UK and Far East. The funds raised will be utilised for the further expansion of the business including acquisitions, joint-venture and new product developments.
In addition, Peterhouse is delighted to announce the appointment of Dr. Qu Li to the Board. Dr. Qu Li is the founder and Chairman of China Ventures Ltd, www.chinaventuresltd.com a leading consultancy and venture capital company, specialising in Sino/Western business and offering a wide range of skills associated with international business transactions.
Peterhouse Asset Management has successfully completed the integration of Hume Asset Management into the Company and the acquired business is now trading under the name of Peterhouse Asset Management (‘PAM’). The development of a significant fund management group represents a key short-term objective of the Company, and the Board would expect to be announcing further developments in this area in the first half of the year.
Our Advisory business continues to perform exceptionally well. In successfully completing an increasing number of reorganisation transactions including those of Treveria, Premier Gold and Ultima Networks, the Team has further cemented its position as the leading AIM restructuring specialist. We remain the number one Corporate Adviser on ISDX, a position we are determined to keep as ISDX itself rebuilds and develops.
In what remains a challenging market for capital raising, Peterhouse’s broking division has had its best ever year. In 2015, we have completed over 60 fund-raisings, at an average of £700,000. We end the year with our largest number of AIM corporate brokerships, 38, having raised over £33 million for these clients in 2015. On ISDX, we completed the largest ever bond funding on that market, raising £3.5m for Carduus Housing Plc in October.
As with our Broking division, JP Jenkins (‘JPJ’) ends the year at an all-time high in terms of number of clients, 24 and rising. We intend to aggressively build up this area of our business, through increased marketing, and the development of a range of new services, products and instruments, trading through the ‘JPJ’ platform. As part of this expansion strategy, we are delighted to announce that Malcom Burne has agreed to join the Board of JPJ. Malcolm's wealth of experience and track record of business successes makes him a most welcome addition to the JP Jenkins team.
Whilst the Company can never be totally immune, particularly in the longer-term, from overall market conditions, Peterhouse has a growing reputation for innovation, creativity and adaptability. These attributes are increasingly being called upon by a growing number of corporate clients, as traditional routes for financing and restructuring are being challenged or even closed. The Board is convinced, that any sustained period of volatility or ‘market turmoil’ in 2016, will offer our broking and advisory divisions in particular, with unparalleled opportunities for continued sustained growth.
We remain open to further, acquisition-led, development of all of our businesses, with a particular emphasis on asset management and broking, and we now have significant funding and supportive shareholders, to move aggressively should the right opportunities present themselves in 2016.
Commenting, Peter Greensmith, CEO of Peterhouse said: “Peterhouse is the summation of its people; their skills, experience, contacts and commitment. These people, our staff and shareholders, have excelled themselves over the last year, delivering record results for our shareholders and clients alike. I am absolutely committed to maintaining the uniqueness of our Company, its collegiate working environment, emphasising innovation and adaptability. Our clients, both old, new and to come, can look forward, as Peterhouse does, to an exciting period of continued growth and change for the Company. At the very least, I promise you, it won’t be boring. “