19th Feb 2015 12:26
LONDON (Alliance News) - Jarvis Securities PLC Thursday reported a 4% increase in pretax profit and upped its dividend by 14%.
In a statement, the holding company for stockbroker Jarvis Investment Management Ltd said it made a GBP3.2 million pretax profit in 2014, compared with GBP3.1 million in 2013.
"This year is best described as a year of two halves. In the first six months we experienced favourable market conditions - high trade volumes in UK equities and consistent interest rates. In the second half the year there was a general decrease in market activity from which Jarvis was not immune. Trade volumes were lower, and there was a further episode of downward pressure on interest rates," Chairman Andrew Grant said in a statement.
Jarvis increased its dividend to 16.5 pence per share from 14.5 pence in the prior year.
Jarvis shares were down 2.3% at 431.00 pence on Thursday.
By Samuel Agini; [email protected]; @samuelagini
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