Cenkos climbs on return to profit

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Cenkos climbs on return to profit

AIM-listed Cenkos Securities (LON:CNKS) saw its share price rise by 4.44% to 47p (as of 16:15 BST) after reporting a 21% uplift in revenues for the six months ended 30th June. The company also booked a pre-tax profit for the period as opposed to a small loss in the comparative period of 2019.

CEO Jim Durkin commented: “Since the end of the period, we have completed several equity fundraisings for our clients. Although our current pipeline is encouraging and we continue to win new clients, we recognise that the prevalence of both the virus and measures taken to contain it, pose a continuing risk to the health of the economy and the financial markets. The restructuring programme started in 2019, has resulted in a significantly lower cost base going forward which, combined with the strength of Cenkos balance sheet and a rejuvenated strategic focus, means the Company is well placed to face the challenges ahead. The second half of the current financial year has begun with energy and purpose at Cenkos, despite the ongoing macro challenges presented by the ongoing coronavirus“.

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