StockMarketWire.com - Record Plc has improved its FY pretax profit to £6.9m, down from £7.7m, with revenue coming in at £21.1m, unchanged. Its final dividend would be 1.65p a share, also unchanged.

"The year has been one of hesitant growth for the global economy and uncertainty in financial markets," said chairman Neil Record.

"Market sentiment continues to be driven more by political events and expectations around central bank policy than by longer-term economic factors," he added in the results statement.

"The effect on currency markets has been continued uncertainty and volatility in exchange rates.

"For the current financial year, the Board's expectation, subject to business conditions, is to maintain the total ordinary dividend at the current level.

"Also, the Board now considers the Group's balance sheet and regulatory capital buffer sufficiently strong to support the consideration of returning at least part of any excess of future earnings per share over ordinary dividends to shareholders, potentially in the form of special dividends.

"Since our last annual report, we've announced the appointment of Jane Tufnell and Rosemary Hilary to the Board. Both Jane and Rosemary bring a wealth of relevant experience from their respective careers and my Board colleagues and I look forward to working closely with them and in benefitting from their valuable insight and business acumen.

"In such challenging environments, there are opportunities for further engagement both with clients and prospective clients to understand their currency-related issues and specific requirements. Whether the answer lies with using our more standard hedging or currency for return products or whether circumstances require a more bespoke approach, we believe we have the people, systems, flexibility and capability to provide a solution.

"The business is well placed to face such challenging environments and to take advantage of the opportunities arising with a strong, committed team of professionals and a robust financial position."





Story provided by StockMarketWire.com