Jelf made a pre-tax profit of £800,000 in the six months up to March 31, 2011, an increase of £2m after making a loss of £1.2m in the six months up to 31 March 2010.
The independent consultancy firm’s financial planning revenues dropped by 11 per cent in the same period, falling from £4.4m to £3.9m.
The firm says revenues increased from £34.9m to £35m and funds under advice rose to £500m from £446m.
Jelf non-executive chairman Les Owen says: “The business has performed well in the first half of the year, both in terms of improving underlying profitability and maintaining a strong balance sheet. We remain on course to deliver another good set of results in 2011.”