CNKS.L Share News (CNKS)

Stockbroker and financial services firm Cenkos Securities underwhelmed the market with its final results, despite revenues rising by 31%, as it announced that this year's annual dividend would be 20% lower than last year.Revenue increased from £46.2m to £60.3m, mainly attributable to the performance at its corporate broking and advisory division, which grew revenues by 31% to £46.7m, from £35.6m previously.However the final dividend was 1p lower than last year at 4p, bringing the total dividend for 2010 to 8p, compared with an underlying payment of 10p the year before. While underlying pre-tax profit grew to £14.5m, from £13.8m,pre-tax profit before tax down dropped 5% to £7.1m (2009: £7.5m).Cenkos's chief executive officer Simon Melling expressed caution in the group's performance over the next year."Confidence levels are still delicate, fuelled by concerns about the Middle East, the strength of the global economy and the potential for a second recession in the UK... Whilst not immune to events in the general economy, our pipeline remains strong and we have made an encouraging start to 2011," said Melling.Underlying basic earnings per share fell to 13.2p, from 13.8p.