Reyl Group has reported a profit of CHF10.3m ($10.7m) for the first half of 2017, a 152% surge compared to CHF4.1m ($4.2m) in the year ago period.
Operating result for the period ended 30 June 2017 stood at CHF12.3m, a jump of 101% over CHF6.14m reported a year ago.
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Operating Income increased 21.4% year-on-year to CHF57.2m. Total operating expenses were CHF43.5m, up 10% compared to CHF39.4m in the first half of 2016.
Assets under management as at 30 June 2017 totalled CHF13.5bn, the group said in its earnings statement.
CEO Francois Reyl and chairman of the board of directors Dominique Reyl in a joint statement said: “This improvement in financial results can be attributed to the good performance of most business lines, notably Asset Management, Wealth Management and Corporate Advisory & Structuring.
“RAM Active Investments registered higher level of performance fees (+ CHF 6.7 million) as a result of market conditions more favourable to its systematic investment strategies, while Wealth Management saw improving levels of client activity in the areas of portfolio management, trading and credit in Switzerland, in Asia and in the Middle East. Corporate Advisory & Structuring continued its progression and its strong deal pipeline build-up.”
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