(Reuters) - British investment banking boutique Shore Capital Group Plc (L:SGRS) reported a nearly 54 percent rise in full-year profit, helped by resilient equity markets and a flurry of stock market listings in London last year.
Guernsey-based Shore, which provides research and corporate broking services, said its pretax profit rose to 8.31 million pounds in the year ended Dec. 31, from 5.4 million pounds a year earlier.
Revenue increased 13.4 percent to 40.58 million pounds.
Shore, which holds a majority stake in Spectrum Investments Ltd, said Spectrum's unit DBD will sell its interest in national radio spectrum licences and six regional radio spectrum licences in Germany to Deutsche Telekom AG (DE:DTEGn) for 15.45 million euros (11 million pounds).