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FinnCap profit jumps and chairman retires

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FinnCap Group PLC on Wednesday said that its profit rose significantly in the first half of fiscal 2021 and that Chairman Jon Moulton will retire from the board at the end of the year.

The U.K. stockbroker made a pretax profit of 3.6 million pounds ($4.8 million) compared with GBP1.4 million for the same period a year earlier. Revenue rose to GBP20.5 million from GBP14.2 million.

The board declared an interim dividend of 0.5 pence a share, as the company said this was a record half-year for the company.

“With the completion of the IPO of Fonix Mobile plc and an GBP87m placing and open offer for Synairgen plc, alongside a number of other smaller transactions, the third quarter has started well and our pipeline of business looks promising for the forthcoming months,” Chief Executive Sam Smith said.

Mr. Moulton will step down on Dec. 31 after more than eleven years as a director and chairman. He will be replaced by Robert Lister, a former investment banker who holds several nonexecutive director roles for London-listed companies.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix



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These money and investing tips are timed for a bull market that looks short on time

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