Battling staff turnover and months of takeover speculation, UK stockbroker Oriel Securities managed to increase revenues and narrow losses last year before being sold to US-based Stifel Financial in May.

Oriel reported turnover of £29.2 million in 2013, up 18% on the £24.7 million the year before, according to the company's accounts filed this week. This helped the firm to reduce losses before tax to £1.6 million for the period, from £4.7 million in the previous 12 months.