LONDON (Alliance News) - CIC Capital Limited Thursday said its net profit multiplied in the first quarter of its new financial year to CAD2.5 million, from CAD76,945 a year earlier.
The consulting and advisory firm which operates primarily in the mining and energy infrastructure sectors said that in the three months ended April 30, its pretax profit rose to CAD2.7 million, up from a restated figure of CAD76,945 in the same period the prior year.
CIC Capital said that revenue from its consulting and advisory services rose to CAD3.3 million, compared with CAD251,636 a year earlier. It said that its administrative costs more than tripled in the quarter, to CAD605,957 from CAD174,691 the prior year.
The company said that as of April 30, its total assets stood at CAD55.2 million.
Shares in CIC Capital were up 18% Thursday morning, trading at 7.25 pence per share.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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