Jarden Securities ex-wealth lifts annual net profit 26%

The annual report shows for the year ended March excluding wealth rose to $12.6 million from $10 million the previous year.

The wealth business was hived off in April last year to FirstCape, its joint venture with National Australia Bank and Pacific Equity Partners, and so it contributed just $1.8 million to the latest result, down from $10 million the previous year and meant the company’s bottom line profit fell 8.1% to nearly $15million.

Revenue jumped 33.6% to $93.2 million with brokerage and foreign exchange rising less than 1% to $38.7 million while fees and commissions from investment banking jumped nearly five-fold to $15.9 million from 3.4 million the previous year.

Capital gain on financial assets jumped 81.5% to $29.5 million.