UK-quoted hedge fund manager RAB Capital has estimated its profits for last year are more than £50m (€67m), in line with the profits warning it issued in December.

RAB said in a trading statement its revenue for the year to the end of December had increased 2% to £135m, while its pre-tax profits are expected to be similar to the £50.6m it made in 2006. Its share price fell from 67.5p last night to 66p at 09.30 GMT.