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finnCap Group PLC - London-based stockbroker - Swings to pretax loss at year ended March 31 of £6.3 million, from profit of £8.1 million, which it says was caused by its restructuring programme and high fixed operating costs. Revenue falls 37% to £39.2 million from £52.5 million. Declares no dividend for financial 2023, down from a total dividend of 1.75 pence per share. Says it has a strong pipeline of potential transactions. Chief Executive Officer John Farrugia said: ‘We have re-focused our strategy, reduced our fixed cost base and successfully launched a highly attractive merger as a first mover in a consolidating sector. Financial 2023 was challenging in particular in equity capital markets where market conditions limited corporate activity and investor appetite.’ Current stock price: 8.00 pence, up 4.5% on Thursday 12-month change: down 55% Copyright 2023 Alliance News Ltd. All Rights Reserved
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