Clarkson Hill says FSA talks ongoing as revenues rise

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Clarkson Hill says it is "still in discussions" with the FSA about its capital requirements as the firm announced a significant recovery in profits after last years' pre-tax loss of nearly £180,000.

Revenue for the six months to 6 June increased to £9.6m, compared to £8.5m for the same period last year, with the firm attributing the rise to an improvement in consumer confidence. Profit before taxation increased to £47,853 - compared to last year's loss of £178,479 - demonstrating a "significant turnaround" in the group's performance. Gross profit increased by 8% to £1.78m, up from last year's figure of £1.65m. The company said a restructuring programme put in place in 2009 had improved operating efficiency 17%, although operating costs were 1.6% higher than last year. It also...

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