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Shore Capital boosts profits
BOUTIQUE investment bank Shore Capital signalled a cautious return to the good times yesterday, posting a 13.4 per cent rise in first half profit and adding it was on the lookout for acquisitions.
Shore reported a pre-tax profit of £2.3m for the six months to end of June. Sales also rose 13 per cent to £14.8m. “Things have picked up,” said managing director Graham Shore. “The change in sentiment may be volatile, but… I think we are over the absolute worst.” The firm added it had £35m of undrawn credit facilities.