- Institutional stockbroker Arden Partners posted a full-year loss, pinning a fall in revenue on 'extremely challenging' equity markets.

Pre-tax losses for the year through October amounted to £2.6m, compared to losses of £2.8m on-year. Revenue fell 11% to £6.6m.

Arden Partner said it had made an encouraging start to the new financial year, with a number of transactions completed in the first quarter, including equity fundraisings

Current year-to-date revenues and profits were 'well ahead' on-year.

'2019 was a challenging market environment for everyone involved in small and mid cap equity capital markets,' chairman Mark Ansell said.

'We reacted by tightly managing our costs and focusing on growing our corporate client list.'

'As a result of our actions, Arden continues to have the balance sheet strength and the people to compete effectively.'

'The decisive result of the UK general election in December 2019 has removed some of the uncertainty which has impacted markets and we are well placed to capitalise on opportunities as and when they arise.'

At 1:51pm: [LON:ARDN] Arden Partners PLC share price was -1p at 15p

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