South African financial and risk services group Alexander Forbes has revealed it is considering a London Stock Exchange listing.

According to the Johannesburg-based group's chief executive, Rael Gordon, Alexander Forbes is looking at ways of encouraging investment in a bid to continue on the acquisitions trail.

He said: "We want to continue our recent expansion. In order to do so we are looking at various options, including our capital structure.

"Maybe we are looking at moving to the London Stock Exchange. The issue has been on our agenda for some time, although I confirm that we are not about to do this.

"It could suit our international business nature and would be more appropriate to help us offer incentives to our UK employees."

Forbes group development director Quentin Heaney said: "It is generally known that Alexander Forbes would be interested in alternative sources of investment, such as bonds and bank support. A London listing would provide one of these options."

Gordon's comments came as Alexander Forbes produced strong trading results for the year ended 31 March 2003. Its trading profit was up 19% - exceeding R1bn (£76.3m) for the first time.

The risk services business, which includes its strong professional indemnity (PI) book, recorded trading profit growth of 25%.

Alexander Forbes said its international operations - mainly in the UK - had increased trading profit by 22% to R514m (£39m).