Manx Financial Group (AIM:MFX) PLC shares surged back toward their all-time high after the company reported a 70% increase in profits for the past year.
The owner of Conister Bank and an assortment of lending, leasing, broking and financial advice firms said its financial performance represented a record year, despite the economic backdrop.
Profit before tax increased to £5.2mln from £3mln, helped by Conister Bank increasing lending 9% to £231.4mln and the net interest margin increasing £6.4mln thanks to the Bank of England interest rate increases.
Other subsidiaries also made positive contributions, including Conister Finance & Leasing, MFX Limited and Payment Assist.
Executive chairman Jim Mellon said "we are well-positioned to support the growth in profitability for 2023".
The shares jumped 22% to 27.48p, not far from January's all-time high of 29.75p.