Panmure Gordon profit boost

Stockbroker Panmure Gordon said its UK business has been profitable for “each month of the year so far” as it reported an upbeat forecast at yesterday’s AGM. Chairman Ed Warner said it was “encouraging to report an increase in both institutional equity commission and investment banking revenue” despite the global financial crisis. The firm also completed the sale of its US business ThinkEquity yesterday, keeping a 22.5 per cent stake.