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Ambrian Capital swings from loss to profit

British investment bank and broker Ambrian Capital swung to a full-year profit yesterday. For the year ended 31 December, the firm posted pre-tax profit before items of £4m, compared with a loss of £16.3m a year ago. Net tangible asset value rose 7.2 per cent to 31.18p per share. Revenue rose 82 per cent to £17.5m.