Investment firm Brewin Dolphin, which last year transferred its Bradford business into Leeds, said its half-year profit before tax tripled to £21.4 million from £6.8m after the wealth manager attracted more funds to the business.

The firm said against a backdrop of stronger equity markets it was able to boost its core fund 13 per cent to £134.4m in the six months to March 30.

The company, which cut staff and restructured its business, said fixed operating costs fell four per cent to £91.7m compared to the same period a year before.