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Panmure Gordon profit nearly doubles
March 25, 2014 / 7:02 AM / 3 years ago

Panmure Gordon profit nearly doubles

March 25 (Reuters) - Investment bank Panmure Gordon & Co Plc’s full-year profit nearly doubled, as it signed new clients and got a boost from the pick-up in British IPO activity in the second half.

The 138-year-old stockbroker said net commission and fee income - an important metric for investment banks - rose 29 percent to 27.32 million pounds ($45.05 million) in the year ended Dec. 31.

Pretax profit from continuing operations rose to 1.17 million pounds from 595,000 pounds a year earlier. ($1 = 0.61 British Pounds) (Reporting by Esha Vaish and Richa Naidu in Bangalore; Editing by Joyjeet Das)

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