First-half pretax profit more than double for investment group Shore Capital


Profit before tax for the Guernsey-based boutique investment bank rose by 123.2 per cent to £3.3m in the first half of 2013 (to end of June) - the 2012 figure was £1.5m. (Release)

Earnings per share were up too at 0.83p, a 72.9 per cent increase on 2012's 0.48p.

In terms of equity capital markets, the company also did well, with pretax profits increased by 8.1 per cent to £307m.

Revenue remained the same at £17.8m.

Commenting on the results, Howard Shore, executive chairman, said:

The continued strength of our business demonstrates that confidence is beginning to return to the economy as more clients look to raise development capital and seek to engage with innovative, service-orientated advisers.

Based on the solid trading across the Group and the many exciting opportunities ahead, the Board looks to the future with confidence.