Arden Partners – Revenue and expenses

PUBLISHED: 26 Feb 2016 @ 19:00 | Comments (0) |

Arden’s (LSE:ARDN) turnover has fallen 58% in six years and it is profoundly unprofitable. But staff numbers have fallen by only 31%, and directors’ remuneration by only 33%.

If you include secretaries and other low-paid staff, the average salary was £107,000 in 2015 – some people are getting very well paid while shareholders lose money. The pain of hard times is not to be felt by the privileged few it seems.

£’000s	2015	2014	2013	2012	2011	2010
Overall revenue	5,486	7,955	10,103	9,785	12,381	13,046
Corporate Finance revenue	3,314	5,266	5,057	3,361	4,743	6,933
Equities Division revenue	2,172	2,689	5,046	6,424	7,638	6,113
Profit after tax	-2,098	103	979	131	506	-1,031
Director’s remuneration	544	554	878	905	975	817
Total staffing costs, inc. directors	4,281	4,216	4,752	5,211	6,308	8,158
Number of employees	40	40	39	37	48	58
All administration costs (inc staff)	7,646	7,936	8,829	9,634	11,826	13,622
Costs other than staff	3,365	3,720	4,077	4,423	5,518	5,464
Dividend per share	0	0.75p	3p	0.65p	0	0
Earnings per share	-10.8p	0.5p	4.7p	0.6p	2.2p	-4.2p
Number of client brokerships	42	44	39	36	32	41
Funds raised for clients	£44m	£92m	£283m	£166m	£265m	£183m
Number of client fundraisings	n/a	18	11	15	12	15

In a year when revenue fell by £2.5m, administration costs fell by only £0.3m. Hence the loss from operations of £2.2m.

The turnover decline is worse in……..To read the rest of this article, and more like it, subscribe to my premium newsletter Deep Value Shares – click here http://newsletters.advfn.com/deepvalueshares/subscribe-1

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