Share 1H Pretax Profit Rises 34%; Says Trading Since Brexit Positive

LONDON–Share PLC (SHRE.LN) reported on Wednesday a 34% rise in pretax profit for the first half of 2016 thanks to booking other gains after revenue and despite challenging trading conditions, and said trading has been positive and ahead of the previous year since the U.K. voted to leave the European Union.

“Share has performed robustly against a market backdrop which saw substantially weaker trading activity ahead of the E.U. referendum and continued declining deposit interest rates,” said Chief Executive Richard Stone.

“Whilst we expect trading conditions to remain challenging, we believe that the group will exit 2016 in a position of strength,” said Mr. Stone.

The AIM-listed stock broking company said the company it has signed an agreement with in April is Computershare, a share registrar that provides registry services to over 900 corporate clients in the U.K., Ireland and Channel Islands.

The company’s assets under administration have grown in the period to 3.4 billion pounds ($4.4 billion), up from GBP2.8 billion last year, Share said.

Share made a pretax profit of GBP190,000 for the six months ended June 30, 34% more than GBP142,000 for the same period last year, despite revenue falling to GBP7.2 million from GBP7.4 million. Other gains were of GBP628 million, much more than the GBP2 million last year.

Write to Olga Cotaga at olga.cotaga[a], Twitter [a]OlgaCotaga

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