In line with the statement made at the time of the AGM on 2 June 2009, Ambrian Capital is pleased to report that trading conditions continued to be favourable for the Group for the period ending on 30 June 2009, and that revenues and profits for the first half of the year are likely to be materially ahead of market expectations.
The statement made on 2 June 2009 read:
“Ambrian Capital has had an excellent start to the year, with revenues and profits in the first five months ahead of the same period last year. Our balance sheet remains highly liquid.
Our Commodities business, and in particular physical metals merchanting, has benefitted from record flows of refined copper into China and the sharp rally in the copper price since the start of the year. The Corporate Finance & Equities business has seen a pick-up in activity across the board, with our stockbroking and market making activities performing well as a result of the rebound in the share prices of natural resources companies. We are also advising on a number of major M&A assignments and have completed several equity financings in the mining and cleantech sectors.
Although Chinese imports of metals are declining from the high levels we have experienced in recent months, Ambrian Capital's mix of businesses — equities, futures and physicals — positions it well to benefit from the eventual recovery in worldwide demand for natural resources.”
About Ambrian Capital plc
Ambrian Capital (AIM: AMBR) is the holding company of Ambrian Partners Limited, Ambrian Commodities Limited and Ambrian Metals Limited.
Ambrian Partners Limited is a specialist investment bank focused on the metals & mining, oil & gas and cleantech sectors. It provides corporate finance advice, equity research, sales and trading and market making services. Ambrian Partners was ranked first in the AIM Basic Materials Sector in the Hemscott 2nd Quarter 2009 Advisers Rankings Guide. Ambrian Partners is a member of the London Stock Exchange and is authorised and regulated by the Financial Services Authority.
Ambrian Commodities Limited is a trader and broker specialising in London Metals Exchange-cleared base metals futures and options. Its customers include metals producers, consumers, merchants, traders and financial investors. Ambrian Commodities is an Associate Broker Member of the London Metal Exchange and is authorised and regulated by the Financial Services Authority.
Ambrian Metals Limited is an independent physical metals trader with particular strengths in copper, aluminium and lead. Through Ambrian Metals’ offices in London and Shanghai and agents in Calcutta, New York, Santiago, São Paulo, Seoul and Tokyo, it sources non-ferrous metals from producers for distribution to an international client base of metals consumers and merchants.
Enquiries:
Tom Gaffney
Chief Executive Officer
Ambrian Capital plc
Tel: +44 (0)20 7634 4700
Simon Law/Marc Milmo
Fox-Pitt, Kelton
Tel: +44 (0)20 7663 6023
Charlotte Kirkham/Ben Simons
M: Communications
Tel: +44 (0)20 7153 1531/1540