REA Brothers Group plc, the banking and financial services group which recently opened an office in Manchester city centre, has announced pre-tax profits of £3,632,000 for the year to December 31, 1998.

The group moved its North-west investment management team from Bolton to Manchester in January this year.

Director Paul Clements said the move would give Rea Brothers greater access to clients and financial, legal and other professional advisers.

The firm, which was founded in 1919 by members of the Rea family of Liverpool, has been listed on the London Stock Exchange since 1960.

It managed funds of £1.3 billion at December 31, 1998.

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