Jarvis Securities sees FY pre-tax profit significantly ahead of market expectations

Jarvis Securities' shares improved more than 11% as investors liked news its full-year pre-tax profit for 2017 will be significantly above current market expectations.

It said pre-tax profit for the four months to April 2017 had risen significantly compared to the same period in the prior year.

"During this period revenues have increased 25% driven by organic growth in the business and improved market conditions. In the same period costs have increased 7%," said Jarvis.

"The board forecasts that pre-tax profit for the year ended 2017 will be significantly above current market expectations."

At 13:37 BST, shares in AIM-listed Jarvis Securities were up 11.02% to 463.5p, and were then off their earlier highs.