Lloyd's broker group Windsor plans to boost its UK commercial broker team after consolidating its operations in a new City office.

Windsor is taking a break from looking for a merger partner as it moves offices to America Square, near Lloyd's, next month.

It expects to net around £2m from the sale of its current Borough High Street office, south of the Thames.

The move is taking precedence over Windsor's hunt for a merger partner in its pursuit of growth.

Chairman David Low said:"We are concentrating our energies on getting more out of our existing accounts and any growth in the short-term will be organic.

"But we do hope by positioning ourselves in the centre of the market, as opposed to south of the river, we will attract competent broking teams. It's very difficult to hire competent people south of the river, so the move is going to change the face of Windsor."

Low does not expect a significant increase on the current headcount of 170, but hopes to entice small numbers of brokers with a mix of cash and shares.

The stock was trading at 31.7p on 14 May after hitting a 52-week high of 36p on 8 May.

This followed an 18% rise in first half pre-tax profits, announced earlier in the day, to £1.08m from £0.91m in the same period of 2001.

There is no interim dividend, but the company will recommend an increased final dividend for the year, up from 1.2p per share last time.

Stockbrokers' forecasts put Windsor's year-end profits at up to £2.9m before tax.