- Technology business investor Mercia Technologies posted a 59% rise in annual profit after it earned more fund management and performance fees.

Ne profit for the year through March grew to £1.66m, as revenue increased 53.1% to £10.2m.

'With nearly £50.0m of investable cash we have considerable firepower to make additional direct investments to drive future shareholder returns, whilst also benefiting from the growing fees derived from our profitable fund management activities,' chief executive Mark Payton said.

'In addition, the number of future potential emerging stars in the funds' pipeline is accelerating, as the significant new fund mandate wins of the past 12 months are deployed.'

At 8:34am: [LON:MERC] Mercia Technologies Plc share price was -2p at 32.5p

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