Beeson upbeat despite halving divi

CORPORATE stockbroker Beeson Gregory has halved its final dividend to 1p after describing 2001 as 'one of the worst years in corporate history'. However, amplifying on full-year figures published last week, chairman Andrew Beeson said: 'Green shoots are starting to appear. We even did an IPO yesterday.'

Beeson, which is negotiating to buy Old Mutual Securities, has slashed costs to £1m a month and believes no more job losses will be necessary.

The group had year-end cash of £13m. It wrote down its technology investment portfolio by £1.4m to £7.9m, describing a third of the 32 companies as being 'in difficulties', and a third as having good prospects.