At the end of October, assets under management stood at £8.1bn compared to £7.8bn at the end of June. Chief executive Mark Brown was able to report positive net inflows of £104m over the same period.
From 1 July, 2011, to date total revenues were down to £63m from £75m in 2010. However, they were higher than the 2009 equivalent figure of £57m.
The company was able to benefit from the diversity if its business with its Securities and Corporate Broking reporting a sharp recovery in trading during October helped by three IPOs to mitigate the one-off trading losses caused by market volatility in Q3.
Brown warned investors that he does not expect the Securities division to be profitable this year.
Market developments have led to greater self financing of inventory and net cash amounted to £68m at 31 October 2011, compared with £74m at 30 June 2011.
