ITSC plans market floatation

INTERNATIONAL SECURITIES CORPORATION plans to float on London’s Alternative Investment Market and the Irish Enterprise Exchange in 2008.

Last week the group announced profits of €6.5 million in its first year trading, well up on earlier forecasts of €5m.

Founded last year by former Anglo Irish Bank senior executive Tiarnan O’Mahoney, the bank has paid dividends from the start.

The value of its shares, traded on the grey market by Goodbody Stockbrokers on behalf of the group, have shot up from €100 last year to €285 at present.

ITSC has strong growth plans and has revised upwards its €12m pre-tax profit forecast for the current year to over €20m.