News

WH Ireland slips to half-year loss

18 August 2008 08:23:00

Stockbroker WH Ireland swung to a first-half pre-tax loss and said conditions have remained difficult since the half year end.

The group reported a pre-tax loss of £685,000 in the six month ended 31 May compared with a profit of £3.8m last time. Turnover dropped to £16.2m from £21.5m previously.

WH Ireland also cut its interim dividend to 1.0p per share from 2.0p.

"Whilst the current turmoil in the financial markets may be responsible for a short term downturn in revenues, it will bring with it new opportunities for those able to take advantage of them," said chairman Rupert Lowe.

"We continue to focus on positioning the business so that we are well placed to benefit from such opportunities," he added.

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