Turnover up at Quayle Munro

Sep 19 2008

But pre-tax profits down at independent merchant bank

TURNOVER at Quayle Munro increased from £12.3 million to £14 million but pre-tax profits fell.

The independent merchant bank said its pre-tax profit was £6.2 million compared to £8.2 million for 2007.

 Peter Norris, chief executive, said: "We have made a good start to the current year but overall the outlook is uncertain and we are likely to experience lower levels of activity in both Corporate Finance and Public Finance.

"I am confident we are properly aware of the issues we face, are taking appropriate initiatives to deal with them and are investing purposefully in opportunities for future growth."