Interim Results
21 September 2007
General Capital Group Plc (AIM: GENC), the asset and venture finance specialist, today announces its interim results for the six month period ended 30 June 2007.
Financial highlights
- Group revenue up 127% to £6.8m (2006: £3.0m)
- Profit before taxation increased to £2.8m (2006: £0.1m)
- Earnings per share 11.00p (2006: 0.26p)
- Equity fund raising of £10m (before expenses) completed in March 2007
Operational highlights
- Acquisition of Norton Folgate completed in March 2007 for £2.6m
- Net loan portfolio up 28% to £43m (2006: £33m)
- Record new business levels of £17.3m (2006: £9.6m)
Commenting on the Results, Mark Edworthy, Managing Director of General Capital, said: “We are delighted with the results for the first half of this year. We continue to focus on our strategy of growing our loan portfolio, concentrating on risk diversification and profit maximisation through exploitation of the supply and demand imbalance that exists in lending to small UK corporates. The acquisition of Norton Folgate and the debt and equity fund raising in March gives us further scope and capacity to accelerate our growth. We look forward to the remainder of 2007 with confidence.
For Further Information:
| General Capital Group Plc |
|
| Mark Edworthy, Managing Director | Tel: +44 (0) 1603 610 610 |
| mark.edworthy@generalcapital.co.uk | www.generalcapital.co.uk |
| Collins Stewart Europe Ltd | |
| Chris Wells / Mark Connelly / Adam Cowen | Tel: +44 (0) 20 7523 8000 |
| mconnelly@collins-stewart.com acowen@collins-stewart.com |
www.collins-stewart.com |
Media Enquiries:
| Abchurch Communications | |
| Heather Salmond / Franziska Boehnke | Tel: +44 (0) 20 7398 7700 |
| franziska.boehnke@abchurch-group.com | www.abchurch-group.com |