Last checked at 
LONDON (Alliance News) - WH Ireland Group PLC Monday said that more needs to be done if the financial services group is to generate its desired level of returns.
WH Ireland, which provides corporate broking and private wealth management services, was reporting results for the first half of its financial year, which showed that pretax profit increased to GBP593,000 in the six months ended May 31, compared with GBP203,000 in the corresponding period the year prior, helped by revenue growth and higher fair value gains on investments.
Total funds under management increased by 3.7% to GBP2.8 billion in the six months ended May 31, with discretionary assets under management up 16% at about GBP830.0 million.
Chief Executive Richard Killingbeck said there is still "a lot of work to be undertaken" for the gross margins and returns the board thinks the company can achieve.
"We remain cautiously optimistic and look forward to the next six months with confidence," the CEO said.
Killingbeck said the company should begin to see the "positive impact" of measures designed to cut costs in the second half of the year.
WH Ireland doesn't pay an interim dividend, instead providing final dividend payments.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
Copyright 2015 Alliance News Limited. All Rights Reserved.
