ure Gordon said today that total net income increased by 22 per cent to £20.9m in the first half.
The investment bank said its statutory loss reduced by 33 per cent to £4m compared with the same period last year.
The company added five new UK corporate clients during the period, taking the total to 77.
UK investment banking completed 8 transactions in the half, with successful completion of a $25m IPO since period-end.
US investment banking completed 16 transactions in the first half.
Chief executive Tim Linacre said: “Despite very challenging market conditions we have reported improved first half results with the US business generating over half the Group’s revenue.
“In the UK, Panmure Gordon has gained 14 new corporate clients so far this year. In the US, a sharp improvement in investor appetite for technology-related stocks aw ThinkEquity post a very significant first half revenue improvement - investment banking revenue was almost four times that of the corresponding period in 2010. ThinkEquity’s investment banking pipeline is the strongest it has been since acquisition.
“We continue to expect investment banking revenue in 2011 to be second half weighted, although the effect of very recent extreme market volatility is unclear. The combination of improved US business performance, our growing UK corporate client list and our strengthening pipeline give us confidence for the future. “