20 Mar, 2008
Colin Rutherford, the new chairman of Midas Capital, formed from
the merger of Midas and iimia MitonCapital this month, says the
enlarged fund management group is well positioned for a difficult
The group, which now has funds under management of £2.8
billion, overcame market turbulence in the second half of 2007
to deliver profits before tax of £2.3 million on
turnover of £13.4 million last year. Adjusted profit on
contiuning operations which includes other operating inomce but is
before tax and exceptional items dipped to £2.8 million from
Rutherford said: 'The market in 2008 looks set to pose
challenges however, I believe that our fund management division is
now well placed to become one of the leadin players in the
multi-asset management sector.'
Midas Capital shares are unchanged at 166p.