Cavendish owner reports profit boost

The September acquisition helped to boost the group's funds under management by £46m to £152m and increased its private client base by 2,500. Gross revenue was £3.3m, up 37% from £2.4m for the corresponding period last year. John Green, chairman, says the company remains keen to acquire businesses which align with its core activities. "We look to continue to build our institutional and private client businesses, while there are signs of more activity in our corporate finance area," he says. The company, which has rebranded as Merchant John East Securities, specialises in institutio...