UK mid-cap broker Numis Securities reported an increase in operating profits last year, bucking a tough trading environment that has taken its toll on many of its peers. The firm was only prevented from ending the year in the black by a one-off litigation charge of over £2m.

The company this morning reported its results for the 12 months to September 30, a year in which revenues increased by 4% to £54.2m and operating profits reached £1.8m, up from a loss of £474,000 in 2010.