Business
Replacement: Full-Year Results
Replacement: Full-Year Results.
About this update from Peel Hunt Limited
[{"type":"text","content":"\n\nThe following amendments have been made to the 'Full-Year Results' announcement released on 16 June 2023 at 7:00 under RNS No 9193C.\n \n· In the Unaudited Illustrative Statement of Comprehensive Income table, Dividend for Year ended 31 March 2023 should have read 'Nil' and not '(1,322)'\n \nAll other details remain unchanged.\n \nThe full amended text is shown below.\n \n \nPeel Hunt Limited\n \nFull-Year Results\n \nFor the year ended 31 March 2023\n \nStrategic progress in challenging markets\n \nPeel Hunt Limited (\"Peel Hunt\" or the \"Company\") together with its subsidiaries (the \"Group\") today announces audited results for the year ended 31 March 2023 (\"FY23\").\n \n\n\n\n \nThe full-year results for the Group consolidate Peel Hunt LLP, a limited liability partnership which, up until the IPO of the Company on 29 September 2021, had a corporate member and individual members. Profits derived from the partnership during the year ended 31 March 2022 ('FY22') were allocated between the members. Profits attributable to the corporate member were retained within the Group and subject to corporation tax; profits attributable to individual members (prior to the IPO) comprised the non-controlling interests, with those members bearing tax liabilities personally. Following the IPO, individual members became employees of Peel Hunt LLP with all future earnings attributable to the Group.\n \nFor reference, an unaudited illustrative consolidated statement of comprehensive income for FY22 is also presented as a prior year comparative. This statement illustrates the impact that the reorganisation of the Group's corporate structure, and the IPO, would have had on the consolidated statement of comprehensive income had it taken place on or before 31 March 2021. This illustrative statement retains the actual revenue results in FY22 and considers the addition of all former members of Peel Hunt LLP being remunerated as employees along with related National Insurance contributions and pension costs on an ongoing basis. The statement has also been adjusted to remove the impact of one-off costs relating to the IPO, and tax-related prior year items arising in FY22. Partnership profits that were allocated to the former individual members in FY22...