Exco Reports 31% Interims Profits Rise In Line With July Flotation Predictions
BROKERS
Exco last week announced interim profits that bore out predictions made during the moneybroker's July flotation. Exco officials said that the company had benefited from volatility in many of markets in the first quarter, although trading was more "subdued" during the second quarter, producing a profit of £28 million for the half. The figure represents a 31 per cent increase over its 1993 figure and comfortably exceeds the £27.5 million forecast in the July prospectus (FX Week, July 4).
Chairman
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