WH Ireland Group PLC - London-based broker and wealth manager - Pretax profit all but evaporates, shrinking to just £8,000 in the financial year that ended March 31 from £1.0 million the year before. Revenue rises by 11% to £32.0 million from £28.7 million, but administrative expenses grow by even more, up 16% to £33.1 million from £28.4 million. While WH Ireland books double the net gains on investments, up to £1.6 million in financial 2022 from £818,000 in financial 2021, finance expense multiplies to £511,000 from £96,000. More positively, underlying pretax profit slips only slightly to £1.4 million from £1.5 million. Proposes no dividend, unchanged.

Since the start of the new financial year, the number of quoted corporate clients increases to 94, and the newly created Debt Capital Markets business completes its first transaction. ‘We remain confident that we are ready to take advantage of conditions when they improve given our strengthened and improving platform across the Group, despite a cautious near-term outlook,’ says Chief Executive Officer Phillip Wale.

Current stock price: 35.15 pence, down 7.5% on Wednesday in London

12-month change: down 39%

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