Viel pre-tax profits rise 70%

Viel & Cie is laying claim to being the third-largest broking firm in the world behind ICAP and Cantor after its pre-tax profits rose 70% to €68.4m ($60m) last year.

Volatile interest rates were behind a big rise in turnover at the French broker, up nearly 38% to €581m in 2001. Operating profits almost doubled to €46m.

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