Commodity focus keeps Ambrian in profit

22nd Sep 2010 12:49

Stockbroker Ambrian Capital nearly fell into losses in the half year to June 30 as its equity investment arm suffered from weak share prices.Pre-tax profits attributable to shareholders fell to £70,000 from £2.41m in the same period the previous year as total income fell to £7.9m from £10.13m.'Ambrian demonstrated in the first half of 2010 that its diversified revenue model focused within the natural resource sector provided resilience despite weak conditions in the equity markets,' said chief executive Tom Gaffney.'Profits from our commodities businesses and Principal Investments offset losses in Corporate Finance & Equities.'Ambrian's commodity businesses are focused on fuels and metals.