Marlow-based broker system provider MCS has attributed its 65% jump in first quarter profits to the split from MCS Global last year.

MCS said its unaudited profits leapt to £275,000 between January and March, a figure that is equivalent to 65% of total profits for the whole of 2001.

MCS business development director James Sharp said: "Following the management buy-out we are a new company with the autonomy to focus purely on the insurance broking market and implement strategies that are enabling the business to grow."

MCS has focused traditionally on medium to larger commercial brokers. It supplies about 100 brokers with about 4,500 workstations. Major clients include Jardine Lloyd Thompson, Alexander Forbes and Aon.

Sharp said that although MCS did not expect to maintain such a fast growth rate during the rest of the year, growth would still be substantially higher than in 2001.

"In total for the year, we're confidently predicting a profit of about £750,000," he said.

Meanwhile, the company has released a new software module to allow its large commercial brokers to trade in the London Market.

Sharp said demand for the software had risen since Lloyd's had encouraged brokers to develop that side of their businesses.

Lloyd's opened its doors to non-London-based brokers early in 2001.

He added that the new software, called Sector.London, was fully integrated with MCS's core back-office system, Sector.Commercial.

"This enables brokers with a broad-based business to handle commercial, personal lines and London Market - all their insurance business - from one database."

Key aspects of the product include UK and international facultative risks, wholesale business and binding authorities, facultative reinsurance, currency processing and a comprehensive claims system.

An MCS statement said new developments in the software would be ongoing and would be introduced approximately every six months.