INVESTMENT management group Brewin Dolphin recorded a rise in profits yesterday, despite "onerous" EU legislation costing it more than £1m this year.
The group is the parent company of Wise Speke, which employs about 300 people in Teesside and Newcastle, with a smaller office in Scarborough, North Yorkshire, employing six staff.
The group saw turnover rise 20 per cent and operating profit jump from £1.1m to £10.6m.
It said the improvement had been achieved despite a number of new administrative responsibilities brought about by European directives.
Chief executive John Hall said: "The sheer volume of new regulation coming through from Brussels is a concern and is putting strains on the Financial Services sector, both in terms of time and cost."
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