Collins Stewart profits rise

Mid-sized investment bank Collins Stewart Hawkpoint posted higher first-half profits, as growth at its wealth management division and Hawkpoint corporate advisory unit offset a dip in earnings at its broking arm.

Collins Stewart Hawkpoint said pre-tax profits for the six months ending 30 June rose 29 per cent from the previous year to £8.4m. The company also maintained its interim dividend at 1.3 pence.

"While the external environment has become even more challenging, our business continues to grow, gain market share and improve its competitive position," chief executive Mark Brown said in a statement.