On an adjusted basis, pre-tax profit rose 24 per cent year-on-year to £8.2 million, the firm said in a statement. The profit rise was made on the back of a 7 per cent gain in revenues of £59.7 million.

Funds under management and administration rose to £13.5 billion from £11.6 billion a year earlier, a 16 per cent rise.

"The second six months of our year have started strongly, and although the uncertainties for the medium-term make it difficult to see very far ahead, the performance of share prices suggests that investors are taking a positive view," said Sir David Howard, chairman of Charles Stanley.