Retail funds, capital-raising fees help Craigs double profit in 'difficult' market

Wed, 06 Jun 2012

By Jonathan Underhill June 7 (BusinessDesk) - Craigs Investment Partners more than doubled its profit last year as the brokerage half owned by Deutsche Bank benefited from KiwiSaver inflows and reaped fees from equity and debt capital raisings. Profit rose to $5.3 million in calendar 2011, from $2.3 million a year earlier, according to the annual report, lodged with the Companies Office. Revenue rose 11 percent to $75 million. “In a very difficult market overall we had a good year,” chairman Neil Craig told BusinessDesk. Craigs has more than...

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