Stock data
| Market cap. | £16.2m |
| Last close | 10.50p |
| High / Low (52 weeks) | 22.5p / 10.2p |
| Stock market listing | AIM |
| Forecast net debt (m) | N/A |
| Forecast gearing ratio (%) | N/A |
| Team | Financials |
| Sector | Financials |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | (25) | (8.7) | (53.33) |
| Relative * | (21.32) | (1.2) | (48.72) |
* % Relative to local index
Other companies covered in sector
| Y/E Dec | Revenue (£m) | EBITDA (£m) | PBT (£m) | EPS (p) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2009A | 50.0 | (12.7) | (3.1) | (1.2) | N/A | N/A |
| 2010A | 40.9 | (6.4) | (4.3) | (2.2) | N/A | N/A |
| 2011E | N/A | N/A | N/A | N/A | N/A | N/A |
| 2012E | N/A | N/A | N/A | N/A | N/A | N/A |
Last updated on 27/03/2012
Latest research
Estimates update
Update | Financials | 01/09/2011
Trimming estimates
Flash note | Financials | 13/05/2011
2010 a game of 2 halves
Outlook | Financials | 21/03/2011
Positive trading update
Update | Financials | 07/01/2011
Normal markets upside
Outlook | Financials | 30/11/2010
Investment summary
Panmure Gordon & Co provides corporate and institutional investment banking and stockbroking services primarily in the UK (Panmure Gordon UK) and US (ThinkEquity). It has an office in Switzerland, an arrangement with Ambit for Indian research, an office in Singapore and a new US distribution deal; an unusual global positioning among mid-cap investment banks. Market conditions have been challenging, deferring deal completion in both the US and UK. The company announced this would lead to a further loss in H211. The CEO has announced the intent to leave his post during 2012.
Last updated on 29/03/2012
Industry outlook
Short-term trading conditions have remained tough, reflecting market macro uncertainty and, with it, less client activity. One relatively bright spot has been interest in US tech. Over the longer term, AIM IPO and US deal activity is well below historic levels. Normalisation would see material profit upside, although the structural outlook is challenging for small brokers.
Last updated on 29/03/2012
Key management
| Tim Linacre, CEO |
| Philip Tansey, FD |
Company address
| Moorgate Hall 155 Moorgate London EC2M 6XB United Kingdom View website |
