Collins Stewart reports £15.2m loss

Collins Stewart has reported a loss before tax of £15.2m for 2008 and a drop in revenue of 24.9% to £...

Collins Stewart has reported a loss before tax of £15.2m for 2008 and a drop in revenue of 24.9% to £175.7m. The company says the results were impacted by a number of significant items of a non-recurring nature, some of which were reported at the interim stage and which had little cash impact in 2008. It says these items mask a profitable trading performance for the group as a whole, in which poor performances from its corporate broking and US divisions were countered by robust performances from its Hawkpoint, wealth management and the UK securities divisions. After adjusting for thes...