19 March 2013
The Chancellor should boost investor interest in smaller companies in tomorrow’s Budget by scrapping stamp duty on dealing in AIM company shares and letting them be placed in ISAs, according to stockbroker Howard Shore.
His Shore Capital bucked the trend in 2012 by managing to grow profits in its equity capital markets division.
Shore said: “As many of the larger banks draw back from smaller companies broking they seem to move to the independents and particularly firms like ours which have been around for some time.”
Revenues rose 11% to £32.8 million in 2012 with pre-tax profits up from £400,000 to £3.7 million. The final dividend is doubled to 0.5p a share.
