Fairpoint profit up as more customers seek advice

Debt advisor Fairpoint reported a 9% increase in half year profit as the group cut costs and the number of customers seeking its advice rose.Adjusted pre-tax profit rose to £2.6m for the six months ended 30 June 2010 from £2.4m before. Revenue was £13.9m little changed from £13.8m in the year earlier period. Gross profit increased to £6.1m from £5.7m.Chairman Matthew Peacock said the group saw growth across all areas of the business. "The progress in the first half of 2010 stands us in good stead to deliver on our strategic objectives."Fairpoint underlined its confidence in future trading by declaring an interim dividend of 1.5p per share. No dividend was recommended in 2009.