UK broker Panmure Gordon has reported a boost in profits for the first six months of the year, as those close to the bank claim it is finally "free from the shackles" of its legacy US business.

Revenue for the year to the end of June rose 25% year-on-year from £12.9 million to £16.2 million, according to an interim income statement released today, with post-tax profit for the period up from £145,000 to £1.6 million.