Evolution Group PLC
07 July 2005
Evolution Group Plc
Trading Update
During the first half of 2005 the Group continued to build on the strong
progress made during 2004 resulting in a first half performance in line with our
expectations and significantly ahead of the equivalent period in 2004.
Evolution Securities, the Group's middle market investment banking business, saw
good performance across all divisions and was particularly driven by record
funds raised for clients in the six month period.
Christows the Group's private client stockbroking and portfolio management
business has continued to increase its funds under management to record levels,
with a corresponding increase in profitability.
As previously announced the Group disposed of its remaining interest in IP2IPO
Group Plc during the period realising £52.8 million. The Group has completed
significant on-market share buy backs in line with plans outlined at the
announcement of its full year results. At the period end the Group retains a
very strong balance sheet with significant cash balances.
The Company intends to announce its half year results on 7 September 2005
Ends
Enquiries:
The Evolution Group Plc 020 7071 4300
Alex Snow, Chief Executive
Graeme Dell, Finance Director
Bell Pottinger Corporate & Financial 020 7861 3232
Charles Cook
Sarah Landgrebe
Notes to Editors
The Evolution Group plc is a leading mid-market integrated investment bank
("Evolution Securities") and private client fund management group ("Christows")
listed on the FTSE 250 with a market capitalisation of approximately £300
million.
This information is provided by RNS
The company news service from the London Stock Exchange
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