Fully listed, Aim adviser Brewin Dolphin says that interim trading was quiet.
The investment banking division was still profitable in the six months to March 2008 but the company improved its overall profits because of a strong performance from the investment management division. Total funds under management were £23bn.
Investment banking revenues declined from £11.4m to £7.6m, while the contribution to operating profits more than halved from £2.5m to £1.1m.
Management admits that there is unlikely to be much new issues activity in the second half from its investment banking business.
The shares jumped 9.25p to 131.25p on the day because of the strong overall performance.
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