Mirabaud, a Swiss wealth and asset management group, has reported consolidated net income of CHF29.9m for the first half of 2018, an increase of 34% from CHF22.3m in the previous year.

The group’s gross profit, excluding operating expenses, jumped 37% to CHF36.8m from CHF26.8m last year.

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Revenue for the first half of 2017 was CHF174m, up 15% from CHF151.6m a year ago.

Compared to last year, fee income increased 15% to CHF134.8m while income from trading activities rose 12% to CHF18.2m.

Assets under management (AuM) at the end of June 2018 totalled CHF33.4bn, up 7% from CHF31.2bn a year earlier.

Of the total AuM, CHF8.8bn was managed by the group’s asset management arm.

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The group’s consolidated balance sheet totalled CHF4.15bn at the end of June 2018, versus CHF4.19bn as at 31 December 2017.

Mirabaud senior managing partner Yves Mirabaud said: “These good results are in line with those achieved recently. They reflect the performance of our businesses in Switzerland and the rest of Europe, as well as in the United Arab Emirates and Canada.

“The positive contribution of our three business lines – Wealth Management, Asset Management and Brokerage – gives us confidence in developing our strategy, which is designed to enable us to offer our private and institutional clients innovative and complementary high value-added services.”