Shore Capital Group Ltd. boosted its profits before tax by 106.6 percent during the first half of this year.

The investment bank, which focuses on alternative asset class fund management and equity capital markets and has a secondary listing on the Bermuda Stock Exchange, saw its profits rise to £4.73 million for the six months ended June 30, 2010 from £2.29 million for the same period last year.

Meanwhile revenue also climbed 23.3 percent to £18.28 million from £14.83 million over the corresponding time.

Earnings per share rose 189.7 percent from 39 pence to £1.13, while interim dividend per share remained unchanged at 25 cents.

Among the highlights were a resilient performance despite volatile markets, with operating revenue up 2.2 per cent, while ECM and asset management revenues were both ahead of the same period in 2009.

Shore Capital Group's market-making continued its strong performance, leveraging the company's position as the second largest on Alternative Investment Market, and its balance sheet remained strong with a cash balance £42.5 million at the end of June.

The company also completed its de-merger of Puma Brandenburg and corporate reorganisation during this period.

Howard Shore, executive chairman of Shore Capital, said: "We commented in March when we issued our final results for 2009 that we were more cautious about the investment climate in 2010. This caution proved justified, with market conditions becoming tougher. In that context we are pleased that we have been able to maintain a strong financial performance.

"In the first few months of 2010, the team at Group level was focused on the de-merger of Puma Brandenburg and the reorganisation of the Group. It remains our intention to find further transformational deals and we have the resources available to pursue such opportunities."