WH Ireland revenues fall, losses narrow

2nd Mar 2010 10:55

Shares in WH Ireland fell back after the stockbroker reported a fall in turnover in the year to November 30.The company, which is split into private wealth management and securities divisions, posted a pre-tax loss of £2.1m compared with £2.5m the previous year, as revenues fell to £24.6m from £26.8m.'The year under review was a particularly difficult one for the stockbroking community but I am pleased to say that WH Ireland has come through it in good shape,' chief executive Richard Ford said. 'Our restructuring programme has reduced our cost base in line with our business objectives, leaving us well placed to take advantage of any improvement in economic conditions.'The company said it remains cautious on the outlook, 'particularly with an impending election and the possible change of government.'