Citadel, one of the world's largest hedge fund managers, reported a 7% increase in profits at its European securities division last year, as it underlined that it plans to pursue its strategy to trade more business for third party clients.

Citadel Securities (Europe) Ltd, the UK-based subsidiary of the US financial group, reported its profits were up 7% to $6m for the 12 months ended December, 31, 2010, according to accounts filed with Companies House earlier this month.