Business
Preliminary Statement
Preliminary Statement.
About this update from Theracryf Plc
[{"type":"text","content":"\n RNS Number : 1515J Evolution Group PLC 25 March 2010 \n \n\nEmbargoed until 7.00am 25 March 2010\nThe Evolution Group Plc\n(the \"Evolution Group\", the \"Group\", the \"Company\")\nPreliminary statement for the year ended 31 December 2009\n \nEvolution Group, the listed investment bank and private client investment management group, today announces its preliminary statement for the year ended 31 December 2009.\n \nFinancial and Operational Highlights\n \n· Record total group income of £129.4m, up 103% on 2008.\n· Adjusted profit before tax from continuing operations1 of £21.1m, up £19.2m from £1.9m in 2008.\n· Statutory profit before tax from continuing operations of £11.1m (2008: Statutory loss before tax £12.7m).\n· Strong cash generation from operations of £33.8m.\n· Balance sheet remains strong with £109.5m of cash.\n· Year end final dividend increased 34% year on year to 1.70p.\n· Full year dividend increased 24% year on year to 2.50p.\n \nPrivate Clients2\n \n· Assets under management (\"AUM\") up 37% to a record level of £5.2bn (2008: £3.8bn).\n· Record income up 23% to £42.4m (2008: £34.5m).\n· Management fee income of £24.4m up 40% on 2008.\n· Transactional income of £17.0m, up 21% on 2008.\n· Adjusted operating profit1 of £4.1m increased by 14% from £3.6m in 2008.\n· Philip Howell appointed Chief Executive Officer in March 2010.\n \nInvestment Banking3\n \n· Record income up 193% to £87.0m (2008: £29.7m).\n· Strong profitability - Adjusted operating profit1 of £18.5m compared with a loss of £5.4m.\n· Record Equities income of £36.2m, up 170% on 2008.\n· Record Fixed income revenue of £35.3m, up 397% on 2008.\n· Number of institutional clients increased to 942 (2008: 586).\n· Voted Top European Fixed Income Agency Br...