AMBR Ambrian

 

TIDMAMBR 
 
RNS Number : 9007O 
Ambrian Capital PLC 
06 July 2010 
 

6 July 2010 
 
                              Ambrian Capital plc 
                          Pre-Close Trading Statement 
 
Ambrian Capital plc ("Ambrian" or the "Group") today issues a trading update for 
the first half ended 30 June 2010. 
Business Update 
Ambrian's Commodities businesses performed well during the first half of the 
year, benefitting from continuing demand for physical metals from China, albeit 
at lower levels than the extraordinary volumes achieved in the first half of 
2009. 
Ambrian Principal Investments Limited, the Group's principal investment 
portfolio, is expected to show an excellent result for the first half with 
estimated net asset value per share growth of 37%. 
The profits generated by Commodities and Principal Investments were offset by a 
loss incurred by Corporate Finance & Equities (Ambrian Partners Limited) which 
is likely to lead to the Group reporting a breakeven result for the first half 
of the year. 
The loss in Corporate Finance & Equities is a result of a combination of (i) a 
decline in fee and commission income in the core natural resources franchise as 
many transactions did not complete due to weak equity market conditions in the 
second quarter, particularly in June and (ii) an increase in personnel and 
recruitment costs associated with efforts to diversify the Corporate Finance & 
Equities business from its reliance on the AIM sector. In light of the recent 
falls in equity markets, management is taking immediate action to reduce costs 
to ensure that the business is able to generate a positive return from its 
leading position in the natural resources sector. 
Formation of Ambrian Energy 
Commodities now represent the majority of Ambrian's revenues and profits. We 
intend to continue growing our business as a supplier of physical commodities 
and are pleased to announce the formation of Ambrian Energy, which will be 
focused on the supply of crude oil, condensates and other energy products, 
including biofuels. These commodities will complement our growing presence as a 
supplier of physical metals. Ambrian Energy will be led by Justus van der Spuy 
who was previously Chief Executive of Masefield, a specialised international 
energy trading company headquartered in Zug, Switzerland. Mr van der Spuy has 
over 20 years' experience in trading in the international oil markets, including 
a period with South Africa's Strategic Fuel Fund. 
Enquiries 
 
+------------------------+------------------------+ 
| Ambrian Capital plc    |                        | 
+------------------------+------------------------+ 
| Tom Gaffney, Chief     | + 44 (0)20 7634 4700   | 
| Executive              |                        | 
+------------------------+------------------------+ 
|                        |                        | 
+------------------------+------------------------+ 
| Fox-Pitt Kelton        |                        | 
| Limited                |                        | 
+------------------------+------------------------+ 
| Simon Law              | + 44 (0)20 3037 5237   | 
+------------------------+------------------------+ 
|                        |                        | 
+------------------------+------------------------+ 
| M: Communications      |                        | 
+------------------------+------------------------+ 
| Charlotte Kirkham      | + 44 (0)20 7920 2330   | 
+------------------------+------------------------+ 
 
 
Notes to Editors: 
 
AMBRIAN CAPITAL PLC 
Ambrian Capital plc (AIM: AMBR) is a specialist investment bank active in 
Commodities, Corporate Finance & Equities and Principal Investments. 
 
Commodities 
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 supplier with a 
particular strength in refined copper. Through Ambrian Metals' offices in London 
and Shanghai and agents in 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. 
 
Corporate Finance & Equities 
Ambrian Partners Limited is known in the market for its leading positions in the 
metals & mining, oil & gas and cleantech sectors.  It provides corporate finance 
advice, equity research, sales and trading and market making services.  Ambrian 
Partners is a member of the London Stock Exchange and is authorised and 
regulated by the Financial Services Authority. 
 
Principal Investments 
Ambrian Principal Investments Limited is an investment company which holds the 
Group's principal investment portfolio.  It is managed by Ambrian Asset 
Management Limited, which is authorised and regulated by the Financial Services 
Authority. 
 
Further information on Ambrian is available on the Company's website: 
www.ambrian.com 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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