Exco Raises 1994 Pre-Tax Profits Despite "Subdued" Markets

BROKERS

Exco, the U.K. money broker, reported a 5 per cent increase in pre-tax profit for last year from £41.5 million in 1993 to £43.5 million in 1994, despite difficult markets, officials say. The group, which floated on the London Stock Exchange last year, is one of only a few publicly quoted foreign exchange brokers that release annual results.

Officials say that a volatile first quarter in 1994 gave way to subdued markets, particularly in the Far East. Chief executive Peter Edge says trading volumes

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