Revenues at Metdist, the commodities dealer owned by Lord Bagri and one of the biggest shareholders in the London Metal Exchange, jumped by a third in the year to March 2011, as it profited from booming metal prices.

According to accounts filed with Companies House last week, Metdist enjoyed a 33% increase in its revenues to $671m over the year. Gross profits increased by 22% to $7.2m.