StockMarketWire.com - Financial services company WH Ireland has reported a £324,000 profit for the six months to May 2017 following a loss of £1.5 million the previous year.

Group revenue rose by 24% to £14.9 million.

Chairman Tim Steel said the recovery in profitability was driven by revenue growth in both its private wealth management and corporate and institutional broking divisions.

He said the company has also bolstered its balance sheet through the sale of its Manchester office. Recurring revenues are now at 45% of total revenues.

"With a strong pipeline of business in our corporate and institutional broking division and continued growth in our discretionary assets under management in our private wealth division, I am optimistic about the outlook for the second half of 2017 and the foundations for future growth into 2018," Steel said.


At 9:44am: [LON:WHI] W.H. Ireland Group PLC share price was +3.5p at 148.5p



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