- Cenkos Securities said momentum from the fourth quarter of last year had continued into the new fiscal year. The company also said it had appointed Lisa Gordon as chairman.

'Whilst still early in the year, the company is encouraged with the strength of its pipeline and is pleased to report that the momentum that took place in the fourth quarter in 2019 is continuing into the new year,' Cenkos said.

'The confidence in our pipeline is reflected in the Board's expectation of announcing a final dividend when it releases its results for the year ended 31 December 2019, in late March 2020,' it added.

The upbeat outlook came as the company said it expected to turn a profit for 2019.

Responding to the unfavourable market backdrop, Cenkos implemented steps to reduce its cost base last year, and expected fixed cost base anticipated to be more than £3m lower than in 2019.

At 9:31am: [LON:CNKS] Cenkos Securities PLC share price was +3p at 64p

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