Davy profits jump by €16m after sale of its stake in ISE

Davy profits jump by €16m after sale of its stake in ISE

The rebound follows a slip in 2017 and the company’s coffers were boosted last year thanks to the gain on its stake in the exchange for an estimated €60 million

Profits at Davy, the country’s biggest stockbroking firm, jumped last year as the company benefited from the sale of its stake in the Irish Stock Exchange and an increase in transactions.

Retained profits climbed by €16 million in 2018 to €123 million, according to regulatory filings by the broker. The rebound follows a slip in 2017 and the company’s coffers were boosted last year thanks to the gain on its stake in the exchange...

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