Arden expects profits to be well ahead

Shares in Arden Partners were given a boost after the stockbroker reported a strong first half performance from both its core UK business and Indian franchise.The company said that if it continues to trade at current levels - "and assuming the pipeline can be delivered" - it expects full-year pre-tax profit to be significantly ahead of market expectations.Arden is currently a corporate broker to 40 AIM and main market companies, and offers advisory and broking services including public company takeovers, mergers, acquisitions and flotations."The corporate finance pipeline is good but as always delivery is dependent on market conditions," the group said.Arden will report its results for the six months ended 30 April on 5 July.---BC