UK derivatives broker Kyte Group boosted pre-tax profits from £2.4m (€3.6m) to £3.2m in the year to April 30. Turnover rose from £43.3m to £53.6m, according to accounts filed at Companies House.

Performance fee income increased and the group helped develop a new hedge fund, opening a subsidiary to expand its fund management activity. It has increased the number of its brokers and products.
The group said it was in the top 10 brokers by volume on Euronext.Liffe, and top 20 for volume on Eurex. Its average of seven directors and 41 other staff were paid wages and salaries of £2.7m in 2006, according to the accounts. Directors' emoluments were £1.2m and the highest paid director received £417,000. This compares with the £100,000 on a good day that founder David Kyte reputedly used to take home from trading on Liffe two decades ago. The group paid a dividend of £1.2m. Kyte Group was fined £250,000 by the UK Financial Services Authority this year because of a mis-statement of its balance sheet by more than £7m in 2003.