Thursday, June 9, 2016

New GLI Finance (LON:GLIF) chief sees turnaround “pillars” completed by year’s end: ProactiveInvestors Stocktube

Published on 9 Jun 2016
Andrew Whelan, chief executive of alternative finance provider GLI Finance Ltd (LON:GLIF) says, after inheriting a company that had “lost its focus”, he is concentrating on “simplifying the balance sheet, reducing the complications within the business, and ensuring the business is appropriately financed for the future.”
As part of this, GLI is bringing together its Sancus and BMS trading businesses, to create a company with seven divisions in five different locations.

Whelan says the combines business, Sancus BMS, will be “highly profitable”, looking to “make £2.5mln this year and looking to estimate £4.5mln next year”.

He adds that Sancus BMS is the “first pillar” in a three pillar strategy for the company.

The other pillars are working on its asset management business, which the chief executive says is “going to plan” and slimming down its platform portfolio, with everything implemented “hopefully by the end of this year”.
@GLIFinanceLtd › LON:GLIF 


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