Arden Partners trading strongly in new financial year

Arden Partners updated the market on its trading on Wednesday, reporting that since its 2020 results on 16 February, progress had remained “strong”, with all areas of the business performing well.

The AIM-traded firm, which was holding its annual general meeting, said in the current financial year to date, it completed seven secondary equity fundraisings, raising more than £75m for its clients, compared to the £90m it raised in the whole of the prior financial year.

It also completed a number of merger and acquisition transactions, adding that it had maintained its focus on increasing its share of fees on transactions, in line with its relative performance on them.

“Our deal pipeline remains strong, including a number of initial public offerings which we plan to bring to market over the coming months,” the board said in its statement.

“Market sentiment has remained positive and lower levels of volatility have created a favourable environment for the equities division.

“We are focused on sustaining this positive momentum across the business and remain confident of returning to profitability this year.”

At 1237 GMT, shares in Arden Partners were up 22.5% at 14.7p.