WH Ireland delivers 'strong' H2 performance, FY revenue grow

Investment advisor WH Ireland said on Tuesday that it had delivered a "strong" second-half and full-year performance, with revenues up year-on-year.

WH Ireland stated group revenues for the year ended 31 March were expected to show an increase of 29% over the prior year to approximately £27.9m, leading the company to now anticipate reporting a pre-tax profit of about £1.0m.

The AIM-listed firm highlighted that its capital markets division had turned in a particularly "strong performance".

Cash balances at the end of the period sat at £8.21m, up from £2.58m a year earlier.

Chief executive Phillip Wale said: "WH Ireland has had a very significant year of progress, returning its first full-year profit for more than five years, delivering a substantial number of capital markets transactions, including two IPOs, and completing our first wealth management acquisition.

"The group's financial position has become more robust, enabling investment in further organic and inorganic growth, particularly in building upon the existing platform now in place in wealth management."

As of 0940 BST, WH Ireland shares were up 0.22% at 57.12p.