A RENEWED surge of interest in the stock market on the part of retail investors has boosted full-year profits at the Share group, owner of retail broker The Share Centre.
The Aim-listed group made a pre-tax profit of £2.35m in 2009, 60 per cent higher than the £1.46m it posted at the end of 2008. Revenues jumped by 18 per cent to £14.13m.
“Over the past year something very significant has happened for personal investors that has had a notable effect on the group’s retail stockbroking activities,” said chairman Sir Martin Jacomb. “This is the first major stock market collapse and recovery since use of the web became widespread, and investors have not only needed to take charge of their own capital, but have had the ability to do so, easily and without complication.”
Share said revenue from dealing commission and fees grew 28.8 per cent over the year as customer activity and account values jumped.
The group last month took over the majority of the customer base of stockbroker Wills & Co, after it was publicly censured by the Financial Services Authority.