INVESTMENT bank Shore Capital yesterday reported robust trading in the first half of the year, but admitted it was against weak comparables.

Revenue increased 23% to £18.3m in the six months to June, with pre-tax profits more than doubling to £4.73m.

The firm has five offices in the UK and Germany, including Liverpool, where it employs 25 people.

Howard Shore, founder and executive chairman of Shore Capital, was pleased with the results, which he said outperformed most of its peer group.

But he warned that those improvements were unlikely to be repeated in the rest of the year.

“The first half compares to a much more difficult first half in 2009,” he said. “Our second half in 2009 was much stronger.

“We remain similarly cautious about the second half. We commented in March that we were more cautious about the investment climate in 2010.

“This caution proved justified, with market conditions becoming tougher. In that context, we are pleased that we have been able to maintain a strong financial performance.

“In the first few months of 2010, the team at group level was focused on the de-merger of Puma Brandenburg and the reorganisation of the group.”

The firm is also looking for suitable acquisitions to follow on from the “three very meaningful deals” it made in the last decade.

He added: “It remains our intention to find further transformational deals, and we have the resources available to pursue such opportunities.”