Return to profit for Daniel Stewart

21st Mar 2011 16:49

Stockbroker Daniel Stewart has seen a big lift in revenues in the current financial year and expects its top line figure to hit at least £8m in the year to March 31, up from £3.5m the year before.The company is set to return to the black with net profit after tax and share based payments of more than £1m, compared to a loss the year before of £2.6m.Assets under Management are expected to exceed £100m during 2011, the company said. "Our order book looks positive and we believe the continued uplift across all our business areas will sustain our return to profitability," said Peter Shea, company chief executive. "I believe this is, in part, the result of our decision to expand our international business. This has proved to be an immediate success with the completion of a number of transactions in Asia, and a strengthening of our partnerships in the USA, advising companies on the OTCQX market," Shea added.