Statutory pre-tax losses at Exeter-based Hawksmoor Investment Management increased for the year to 31 December 2017 despite record revenues and assets under management, according to its latest annual report and accounts.

The pre-tax loss amounted to £476,413, a £154,255 or 51.37 percent increase on the £300,685 loss reported a year earlier.

Revenues (turnover minus cost of sales) came in at £5.98 million, a £1.89 million or 46.19 percent increase on the £4.09 million reported for the preceding year.

This was more than offset, however, by a £1.74 million...