Quam, the Hong Kong financial services group, posted a 16.9 per cent rise in revenue for the 12 months to 31 March 2012 to HK$358.3 million ($46.2 million), from HK$306.6 million in the previous year.

Although positive, the results do not fully reflect the performance of Quam for the year, the firm said in a statement. This is due mostly to several one-off events, including the liquidation of its counter-party broker, MF Global Hong Kong, at the end of October 2011, a one-off impairment charge from the investment of its Middle East associate McMillen Advantage Capital and its discontinued Shanghai private equity unit.

The net loss for the year went up from HK$7.7 million in 2011 to HK$24.5 million.

The securities and futures dealing commissions rose 17.4 per cent to HK$218 million, due largely to a wider client base, while revenue from the corporate finance unit grew to HK$54.3 million. The firm now records some $62.9 million in total assets under management as of 31 March 2012.

"Quam will focus and redeploy capital in Hong Kong and China by reinforcing our distribution platform in Hong Kong, expand aggressively our wealth management team, and enlarge further our capital markets capability," said Bernard Pouliot, chairman.

Quam is comprised of seven core businesses namely, Quam Securities, Quam Capital, Quam Asset Management, Quam Private Wealth, Quam Private Equity, Quamnet.com and Quam Investor Relations.