Huge Profits Rise at London's Oldest Stockbroker

Stephen Harris

15 August 2007

Revenue increased by 89 per cent to £10.6 million in the first half at London’s oldest stockbroker Hichens, Harrison & Co. Profit from operations rose 150 per cent - significantly higher than the rate of revenue growth - to £2.9 million at the half year stage. During the period Hichens Investment Management was firmly established, says the broker, with funds under control and advice up to £300 million by the period end. Hichens, Harrison (Asia) intends to open new offices in both Singapore and Japan (the latter by way of a joint venture). The company intends the Singapore office to form the new regional head office for the current Indonesian and Malaysian offices. It has also started the process of gaining a regulatory licence in Singapore.