Hymans Robertson, the UK investment consultancy, said its operating profits rose 3% during the year to March 31, to £6.4m, as its roster of clients expanded by around a fifth.

Profits increased on the back of increased turnover, which rose 6% to £48m. The firm said it won a net 57 new advisory clients during the year, to a roster that stood at about 210 last year. A spokesman clarified that not all of the new clients are full three-year advisory mandates with pension funds, but most are.