Broker Network chief executive Grant Ellis said the "signs are good" for the future as the company reported its first results since flotation on AIM in May this year

The network reported pre-tax profits of £709,000 for the six months ended 31 October 2004, up 68% on the same period in 2003.

Membership numbers have risen to 138 members from 133 last year. The network has acquired nine members so far in 2004.

Keith Insch, formerly of Hill House Hammond, has been appointed managing director of network-owned brokers.