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CCH International profits surge

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Thu, 2007/06/21 - 21:03 by Muslim Investor

Trade finance group CCH International, which specialises in Islamic finance, said 2006 was a year of "great success" as profits surged.

The group, which was the fourth best performing stock on AIM in 2006, saw pre-tax profit for the year to December surge to "3.8m from "690,000 last year. Turnover rose 293% to "19.1m from "4.8m for the 14-month period to December 2005.

It continues to offer innovative Sharia-compliant trade finance products, the demand of which remains unabated, said the group.

CCH is a tightly held stock but the group is taking steps to increase investor appeal and liquidity.

In a telephone interview, finance director Patrick Kennedy said CCH has released shares through its German subsidiary and listed on Plus Markets. Liquidity could also improve with possible future acquisitions, he added.

He said the company will look to grow organically, through strategic acquisitions and by taking small positions in companies with high growth prospects.

The acquisition of CCH Investment Consultants EC has provided an opportunity to further develop its business in the Middle East.

Read the full press release.

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