Jelf moves to profit

Shares in financial advisor Jelf jumped after it moved into profit for the year to 30 September, despite tough trading conditions.The company posted a pre-tax profit of £278,000, against a loss of £11.3m the previous year on revenues that edged up to £70.4m from £70.3m the previous year."As a result of our focus on our clients we have managed to produce a good performance despite difficult trading and the wider economic conditions," said chief executive Alex Alway. "We have now completed the integration of all our previous acquisitions and are focused on generating increased value from the three core business areas. We remain cautious about the economic outlook and believe that 2011 will be a challenging year for our clients."