Birmingham-based broker Perkins Slade has targeted an extra £1m turnover growth in 2006.

Reporting results for the year ended 31 August 2005, the broker posted an 8% rise in total income to £6.3m. Profit before tax fell from £695,000 to £652,000.

Chief executive David Slade said heavy investment in technology and staff recruitment had impacted the broker's pre-tax profits. He said the broker would grow significantly in 2006.

On organic growth he said: "The market seems to have become preoccupied with who is buying and selling, and it has taken its eye off the client ball.

"We have a commitment to long term independence, and can guarantee continuity of service."

This strategy, he said, had won Perkins Slade some significant accounts worth a brokerage in excess of £500,000. Slade said it would continue to target high value clients.

There are also plans to boost the broker's holding in the South.

Slade said: "If I could find another couple of brokers [to acquire], I would. Particularly in the South, to merge with our Hampshire office."

Turnover is expected to rise to £7.5m in 2006.