- Frenkel Topping's pre-tax profits rose to £1.0m in the six months to the end of June - up from £0.3m last time.

Revenue and other operating income increased to £3.9m (H1 2016: £2.9m) with recurring revenue of £2.9m (H1 2016: £2.2m), representing 81% of total revenue.

Other highlights:

- Assets under management £765m (as at 30 June 2016: £687m)

- Assets on a DFM Mandate £291m (as at 30 June 2016: nil)

- Net cash and marketable securities at the period end of £4.8m (as at 30 June 2016: £4.4m)

- Interim dividend of 0.2969p per share (H1 2016: 0.2375p)

Executive chairman Jason Granite said: "The board is pleased with the positive results delivered during the first half of 2017.

"We will continue to execute the existing business plan for the Company.

"We will seek to expand our geographical footprint, authorised individuals and establish further joint venture relationships to drive asset growth.

"Having conducted a thorough strategic review to determine the best direction for the company, the board is fully focused on reaching £1bn AUM and remain open to opportunistic investments to maximise its return on its cash position, as well as other investments and acquisitions that might accelerate the growth of the business."

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