Collins Stewart Plc, a British stockbroker, announced its annual results today. The stockbroker returned to pretax profit in fiscal 2009 after making a loss in previous fiscal. Collins Stewart said that the bullish markets in the second half impacted positively on its revenue from its businesses.

Collins also announced today that it had agreed to acquire Corazon Capital in a deal worth £7 million. Collins said that its performance improved in the second half of 2009.

In its annual results, Collins said that it returned to profit in FY 2009 ended December 31, 2009. The company reported pretax profit of £18.4 million for the year, while it posted a pretax loss of £15.2 million in FY 2008. Total revenue in the year 2009 was posted of £186.4 million, increasing by 6% while revenue was reported of £175.7 million in the previous corresponding year.

Collins Stewart operates in capital raising, corporate advisory and wealth management in U. K. and also has U. S. business and mergers advisory arm called Hawkpoint. Collins said that the company posted profit in all major divisions. The wealth management division of the company was the most profitable in 2009 reporting a pretax profit of £10.1 million.

Collins Stewart also announced that it had acquired the offshore wealth management group Corazon Capital in a £7 million deal. The company said that the acquisition was part of the company's strategic drive to increase the size of the wealth management arm, both organically and through acquisitions.