Cavendish is looking to grow its business again after the newly-created investment bank returned to profit following a string of losses.

The bank, which was formed through the merger of brokers Cenkos and FinnCap last year, posted revenue of £27.7m for the six months to 30 September, which was up 42%. The rise in revenue meant that it posted an adjusted pre-tax profit of £1.8m, following a £3.6m loss during the same period last year.