Winterflood numbers best in a decade

Winterflood Securities, the biggest market maker to retail brokers, has made its best profit since the dotcom boom 10 years ago.

Preben Prebensen, chief executive of Winterflood's parent company, Close Brothers, said Winterflood "had another good year". "Things quietened down in August and early September but have taken off again as the Footsie's rise has encouraged private investors back into the market."

Close has also seen strong demand on its banking side both for car financing and asset financing. It has taken on 150 more staff and increased its loan book by 23% to an all-time high of £2.9 billion.

Prebensen said this reflected a mix of organic growth and taking share from other banks who had pulled out of lending.

Close's profits rose 7% to £121 million in the year to end-July. The dividend is unchanged at 39p.