Brooks Macdonald has reported a year-on-year pre-tax profit increase of 22.4 percent for its most recent financial year, the second year chief executive Caroline Connellan has been in situ.

Ms Connellan said she was “delighted” with the firm’s progress in the year to 30 June 2019, where discretionary assets under management were up 6.8 percent to £13.2 billion, and revenue was up 7.3 percent to £107.3 million.

The underlying profit from continuing operations, which the group said it thought was a more accurate reflection of performance, was up 11.8 percent to £21 million, with the underlying profit margin incre...