UK stockbroker Shore Capital is targeting expansion in its capital markets and asset management divisions as its bulge-bracket rivals withdraw from certain sectors, according to its executive chairman.

Howard Shore, who is also Shore Capital's founder, made the comments in the firm's interim results statement for the six months to June 30. Revenues for the firm as a whole rose 13% over the first six months of the year to £20.3m, helping to lift pre-tax profits to £2.5m from £2.4m the prior year.