Cenkos Securities shares (LON: CNKS) were trading +5.55% higher on Friday morning after the group shared interim results.
The securities group reported a pre-tax profit of £753,000 in the six months ending 30 June. This is compared to a £196,000 loss in the same period a year earlier.
Revenue at Cenkos Securities also surged by 21% to £12.9m.
The group has halved its interim dividend by 50% to 1p a share.
“The clear outcome of the 2019 general election made for an encouraging start to 2020 with an increase in asset values and the level of corporate activity. Since then the Coronavirus (“COVID‐19″) and the resulting lock down have had an unprecedented impact on economies around the world,” said chief executive, Jim Durkin in a statement.
“Our ongoing priority is the health and well‐being of our staff and I am grateful for the efforts of our IT team, who ensured an immediate and seamless switch to remote working and our HR and Facilities team for their work to make our office COVID‐secure, ready for our return.
“Swift action and our flexible operating model meant we have been fully operational throughout this time and therefore able to focus on our clients’ needs and assist them through this period. Indeed, the second quarter of 2020 saw a further increase in corporate activity, such that secondary funds raised on AIM were more than double that raised in the first quarter,” he added.
Cenkos Securities shares (LON: CNKS) are now trading +4.44% at 47.00 (1120GMT).
