FinnCap hails solid year after corporate fees drive up sales

 
Michael Bow
Follow Michael
SMALL cap broker finnCap yesterday said it increased revenues and operating profits last year after overcoming difficult trading conditions.

The broker, which has the highest number of junior stock market listed clients and is the eighth biggest broker across the broader market, said revenues increased to £11.4m for the twelve months ending April, up from £9.1m in the previous year. Corporate fees increased from £3.4m to £4.7m.

Chief executive Sam Smith said: “These strong results are testament to our focus on managing our cost base while providing a very high level of service to all our clients.”

The firm, which boasts private equity investor Jon Moulton as its chairman, said operating profits increased to £2.6m, without providing the previous year’s figure.