Evolution Group, the UK broker that was fined £500,000 (€721,000) by the Financial Services Authority last November, more than doubled its pre-tax profits in the 12 months to December 31 last year.

The UK regulator fined Evolution following its investigation into short selling of shares in Room Service Group, a UK catering company now called Azure Holdings. Christopher Potts, head of market making at Evolution, was fined £75,000 and left the firm.