- Currency manager Record increased first-half profits after global political stability stoked volatility in foreign exchange markets.

Record posted a 6% rise in pre-tax profit to £3.8m, as revenue rose 14% to £12.2m.

The company declared an interim dividend of 1.15p per share, up from 0.825p a year earlier.

"A backdrop of political instability continued to contribute to currency movements over the period, including unpredictable and unconventional policies pursued by the Trump administration in the US, the snap general election in the UK, and uncertainty over the nature of Brexit," chief executive James Wood-Collins said.

"Overall it was encouraging to maintain revenues at levels consistent with the second half of last year despite the remaining UK-based dynamic hedging clients deciding either to switch to lower-margin passive hedging or to terminate their mandates during the period."

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