International Lloyd's reinsurance broker Cogent Resources reported pre-tax profits of £274,500 in the year to 31 March 2003, documents filed at Companies House show.
The figure compares to £171,187 reported in a 15-month period ending on 31 March 2002.
Turnover decreased to £2.4m compared to £3.2m in the longer prior period.
Retained profit was £220,614 against £140,921.
About 42% of the broker's turnover came from the European Union.
