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.
Financial Services
16,492.39
15:44 15/11/24
-0.24%
-40.16
FTSE AIM All-Share
728.67
15:45 15/11/24
n/a
n/a
Jarvis Securities
50.90p
12:39 15/11/24
1.80%
0.90p
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.