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| Share Name | Share Symbol | Market | Stock Type |
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| Libertas Cap | LBR | London | Ordinary Share |
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| 0.00 | 0.00% | 3.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
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| 3.00 | 3.00 |
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Posted at 26/3/2008 08:21 by moogies Libertas Capital Group PLC26 March 2008 For immediate release 26 March 2008 LIBERTAS CAPITAL GROUP PLC PRELIMINARY UNAUDITED RESULTS FOR THE YEAR ENDED 31 DECEMBER 2007 Libertas Capital Group plc (AIM: LBR) ('Libertas Capital' or 'the Company'), the financial services firm, today announces preliminary unaudited results for the year ended 31 December 2007. Financial highlights:- Revenue up 54.4% to £18.3m (2006: £11.9m) Pre tax profit before share based payments up 53.4% to £3.1m ( 2006: £2.02m) EPS before share based payments up 44.9% to 4.87 p (2006: 3.36 p) Net assets up 30.9% to £10.1m before reduction of £1.9m for Treasury and EBT Shares (2006: £7.71m) Operational highlights:- Strength of continuing activities and quality of transactions 30 transactions completed including IPOs on AIM, M&A transactions and private fundraisings Successful development and growth of Securities business both in primary and secondary activities Continued successful implementation of strategy including further expansion into Asia and the Middle East Strong transaction pipeline continues into 2008 Commenting on the results, Jakob Kinde, Executive Chairman of Libertas Capital Group plc, said:- 'We are pleased with the performance of the business, which shows increased revenue year on year and continued profitability. We have continued to implement our strategy and have expanded our corporate finance and securities businesses in Asia and the Middle East to offer full service capability in these growing and important geographical markets. The results for the year highlight that the investment in building a balanced platform for future growth is beginning to demonstrate considerable success. We continue to invest in talented people in each of our core business areas - corporate finance, securities/distribut provide the high quality of services expected by our clients. As a result, we are continuing to attract further corporate and institutional clients in Europe, North America, Asia and the Middle East. Despite market conditions being difficult in the second half of 2007, we have demonstrated the strength of our business through our performance in 2007. With the visibility of our transaction pipeline, we look forward to 2008 with confidence' For further information please contact: Libertas Capital Group plc +44 (0)20 7569 9650 Jakob Kinde, Executive Chairman Henry Okereke, Chief Executive Grant Thornton +44 (0)20 7383 5100 Fiona Owen Buchanan Communications +44 (0)20 7466 5000 Charles Ryland /Mary-Jane Johnson Notes to Editors About Libertas Capital Group plc Libertas Capital is an international financial services firm offering its clients a full range of dedicated independent Corporate Finance Advisory, Research and Distribution services. Corporate Finance services include investment bankers with substantial depth of European M&A and general corporate finance experience, as well as entrepreneurs and industrial professionals with extensive experience and expertise in their particular fields, having completed in excess of US$100 billion in transactions. In our research and distribution services we offer our clients a dedicated research capability with deep industry knowledge in our core sectors - Renewable Energy, Energy (including oil and gas and natural resources), Infrastructure, Real Estate, Healthcare, Technology and Telecom - satisfying the needs of both our corporate and institutional clients. Our extensive distribution network covers UK, European, Asian, Middle Eastern and US institutional clients. Our business is based on core values and strengths which we believe both differentiate Libertas Capital from its competitors and give us a competitive advantage. We aim to provide a high level of customer service that will result in long term client relationships based on the principles of openness, innovation and creativity. Chairman's Statement 2007 was an exciting year for the Group and we are pleased to report a healthy set of results. Revenue totalled £18.3m (2006: £11.9m) with profit before tax and share based payments of £3.1m (2006: £2.0m). Closing net assets amounted to £10.1m prior to a reduction of £1.9m for shares held within Treasury and the Libertas Capital Employee Benefit Trust (2006 net assets: £7.7m). The earnings per share before exceptionals are 4.87 pence (2006: 3.36 pence). The Group's strategy is to provide a range of financial services to corporate and institutional clients in Europe, North America, Asia and the Middle East in the sectors of Renewable Energy, Energy (including oil and gas and natural resources), Infrastructure, Real Estate, Healthcare, Technology and Telecom. As explained in more detail in the Chief Executive Officer's Review, we now have established operations in Asia and the Middle East. The Group Structure Libertas Capital Strategic advisory and execution Corporate Finance capabilities Limited Private and public fundraising Mergers and acquisitions and corporate restructuring Libertas Capital Institutionally sponsored research Securities Limited Independent corporate sponsored research through Equity Growth Research Distribution and facilitation trading Libertas Capital Corporate finance in Asia, Libertas Capital Asia specifically China Group Plc Limited Libertas Capital Corporate finance in North America Inc Libertas Capital Corporate finance in the Nordic Nordic AB region Libertas Capital Corporate finance and securities in Dubai Limited the Middle East Libertas Capital Strategic and principal Ventures Limited investments in core sectors STRATEGY The Group has enjoyed four successful years on AIM. Our strategy can be summarised as follows:- Our business is based on core values and strengths which we believe differentiates Libertas Capital from its competitors and gives us a competitive advantage. We aim to provide a high level of customer service that will result in long-term client relationships based on the principles of openness, innovation and creativity. To offer a breadth of financial services with a number of international locations To offer senior management experience and expertise in investment banking, broking and financial services To enhance shareholder value and generate good long term returns to shareholders To exploit both internal and external synergies to grow the business organically and through appropriate mergers/acquisitions and JVs To add specialist financial services operations where they bring annuity income or synergies. RESULTS Our results are strong with revenue of £18.3m and a pre tax profit before share based payments of £3.1m. Share based payments amount to £0.9m being a charge in respect of the fair value of awards granted in shares, in accordance with IFRS 2 'Share Based Payments'. There is no cash effect for this sum. We completed some 30 transactions in IPOs, M&A and fundraisings. The Securities business has continued to increase in depth and quality with the offering of both institutional sponsored research through Securities and independent corporate sponsored research through our independent brand name, Equity Growth Research. Securities also offer a dedicated sales distribution team catering for institutions and high net worth individuals. We have enhanced further the value of underlying transactions completed. DIRECTORS It is with great sadness that we record that Mr Sven Skarendahl, a non- executive board member, passed away on 25th January 2008 after a period of illness. Sven has played an important role to Libertas Capital as a senior adviser since the AIM flotation in July 2004 and since October 2004 as a non-executive director and non-executive chairman of Libertas Capital Nordic AB. Sven was a deeply respected and admired colleague who will be greatly missed by all who knew and worked with him. EMPLOYEES The results of our operating businesses are determined largely by the efforts and commitment of our employees who are one of the principal assets of the Group. Many of our employees are already shareholders, participating in the award of shares through an Employee Benefit Trust. Our philosophy has always been to motivate and incentivise all our employees by way of equity participation. CORE VALUES At the time of the formation of the Group, we set out our core values which we believe distinguish the Group from our competition and give us a competitive advantage. The Group aims to provide a high level of client service that will result in long term relationships with clients based on transparency, integrity and innovation. These values include independence, industry focus, depth and experience, and geographical spread of operations. DIVIDENDS The Board did not recommend a dividend for the full year 2007 as we believe that it is important to retain the funds in order to grow our businesses. The Board believes that a progressive dividend policy will be pursued as the Group continues to develop. OUTLOOK Despite market conditions being difficult in the second half of 2007, we have demonstrated the strength of our business through our performance in 2007. With the visibility of our transaction pipeline, we look forward to 2008 with confidence. Jakob Kinde Executive Chairman March 2008 Chief Executive Officer's Review REVIEW OF THE YEAR The Group made strong progress in 2007 as reflected in our full year's results. All areas of our businesses have been robust and there has been a significant increase in revenue generation, with revenue in 2007 of £18.3m compared with £11.9m in 2006. Profit before tax and share based payments amounted to £3.1m in 2007 compared with £2.0m in 2006. In summary, 2007 has seen Libertas Capital develop significantly with implementation of its strategy to strengthen further both the corporate finance and securities businesses. Libertas Capital is now able to take advantage of these opportunities. OPERATING SUBSIDIARIES LIBERTAS CAPITAL CORPORATE FINANCE The Corporate Finance business in London is regulated by the Financial Services Authority and is a Nominated Adviser. The global team has been strengthened further and now comprises some 26 professionals in London, Sweden, North America, Asia and the Middle East. They concentrate primarily on sectors in Renewable Energy, Energy, Technology and Healthcare. The team seeks to build long term pro-active relationships with companies and entrepreneurs operating in these specialist sectors from Europe, North America, Asia and the Middle East. In the Autumn of 2007 we were delighted to welcome the experienced team of professionals from Macadam Corporate Finance Limited, a corporate finance boutique acquired in a share for share exchange. The typical client profile is a business that is entrepreneurial, growth orientated with an experienced and quality management and earning revenue between £50 million and £500 million. Some examples of the transactions completed include: Landkom International plc - fundraising and admission to AIM Canton Property Investment Limited - fundraising and admission to AIM Plantic Technologies Limited - fundraising and admission to AIM AISI Realty Public Limited - fundraising and admission to AIM Mobile Credit - fundraising and admission to AIM Zeehan Zinc Limited - fundraising and admission to AIM Empire Energy Corporation International Inc - private placement Morphic Technologies - acquisition of Swiss company Gas Turbine Efficiency plc - secondary fundraising Renewable Power & Light Plc - secondary fundraising West Pioneer Properties Limited - secondary fundraising Island Gas Resources plc - reverse takeover Mawell - private placement Oceanlinx - private placement Grosvenor Waste Management Limited - M & A Advisory LIBERTAS CAPITAL SECURITIES LIMITED This business is a member of the London Stock Exchange and regulated by the Financial Services Authority. It has three activities:- 1. Provision of distribution and facilitation trading; 2. Provision of institutionally sponsored research; 3. Provision of corporate sponsored research through Equity Growth Research We have continued to develop this business during the year and now have a complement of some twenty professionals. We continued to strengthen the EGR brand within the Libertas Capital stable. Securities offers services as a Broker and is continuing the development of a corporate client base. We are now recognised as a leading provider of products in our core areas. Distribution Libertas Capital Group has been building a strong Securities Distribution capability to market equity capital market products and Libertas Capital Research products, including a sales trading unit, which has continued to develop this year. This distribution team has dedicated UK small and mid-cap, European small-cap and high net worth client functions. Libertas Capital Research Libertas Capital Research provides institutionally sponsored research, delivering specialist analysis, in our core sectors to institutions in Europe, North America, Asia and the Middle East. Equity Growth Research (EGR) EGR focuses on smaller, high growth companies that deserve greater attention. Through a sponsored investment research model, EGR brings the quality of analysis and frequency of reporting normally reserved for the FTSE 350 constituents to its client companies. The research is distributed via a number of channels (electronically/prin professionals in addition to outsourced analysts. LIBERTAS CAPITAL NORDIC AB This division is based in Stockholm and offers full corporate finance services to assist Nordic corporates in cross border activities. The Nordic operation is continuing to expand and we aim to continue this growth systematically, in parallel with positive earnings development. LIBERTAS CAPITAL ASIA LIMITED Libertas Capital Asia Limited ('LCA') is a wholly owned subsidiary based in Hong Kong offering full corporate finance services for the markets in Asia, particularly China, to complement those already provided by the Libertas Capital group. In the summer of 2007 LCA raised, from Asian investors, US$55m for the AIM flotation of Canton Property Investment Limited, a Chinese retail and leisure property company. LIBERTAS CAPITAL INC Libertas Capital Inc is based in Los Angeles, California and offers full corporate finance services to the North American market as well as a bridgehead into the Asian markets, to complement those services provided by the Libertas Capital group. LIBERTAS CAPITAL DUBAI LIMITED Libertas Capital Dubai Limited ('LCD') is a sponsor on the Dubai International Financial Exchange (DIFX). LCD offers full corporate finance, agency trading and research services covering the markets in the Middle East and the Indian Sub Continent to complement services provided by the Libertas Capital group. LIBERTAS CAPITAL VENTURES LIMITED This company makes strategic and principal investments in our core sectors. EMPLOYEES We continue to recognise the importance of developing a culture where employees' interests are closely aligned with those of the Group's shareholders. At present, the Directors and employees own a significant proportion of the Group's shares and we wish to continue to incentivise employees with both share options and the award of shares. It is our firm belief that incentivising and retaining our key employees is in the best interests of the Group's shareholders. I would like to take this opportunity to thank all members of staff for their efforts in achieving these results and look forward to 2008. OUTLOOK The 2007 results demonstrate a significant improvement in the quality of our underlying and continuing businesses. These results are particularly impressive given the difficult market conditions in the second half of 2007. The market place for 2008 is exciting for us at Libertas Capital, not least as continued investment in key staff and implementation of our strategy is bearing fruit. The visibility for 2008 looks promising particularly in our core sectors of Renewable Energy, Energy, Infrastructure, Real Estate, Healthcare, Technology and Telecom. We have seen a satisfactory start to the year and with some notable mandates on board, we are confident that we will continue to increase the number of corporate clients in 2008. As ever we recognise that market conditions are inherently volatile and will remain cautiously optimistic about the near term market outlook and confident about Libertas Capital's long term prospects. Henry Okereke Chief Executive Officer March 2008 |
Posted at 21/1/2006 08:35 by northern dancer good write up in this weeks investors cronicle,company seems to specialise in new energy cos.recent floats include aspen,libra natural,gas turbine eff,beximco(pharma). |
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