Charles Stanley lifts profits despite turmoil

8th Jun 2010 13:01

The chairman of Charles Stanley said he was more confident about the outlook than he has been in two years as the stockbroker posted a rise in profits despite continuing economic turbulence.In the year to March 31 adjusted pre-tax profits climbed to £13.7m from £12.5m the previous year. Revenue rose to £115m from £101.8m.'We view this as a good set of results against a turbulent economic and political background, demonstrating once again the resilience of the group,' said chairman Sir David Howard. 'While there are many indications that the worst of the financial crisis is over, there is still a difficult and winding path ahead.'He continued: 'It may be too early to predict a sustained recovery at this stage, but looking towards the medium term I am rather more confident about the outlook than I have been in the past couple of years.'