INVESTMENT bank Jefferies saw record fourth quarter profits in the three months to 30 November, the institution said yesterday. Net earnings soared to $120m (£73.7m), up 67.7 per cent on the same period of 2012. Net revenue increased 21.7 per cent to $935.7m while non-pay expenses edged up 6.4 per cent to $198.1m . The success of the quarter pushed compensation expenses to $546.3m , up 18.6 per cent on the year. Revenue from equities jumped 66.7 per cent on the year to $294.4m , but fixed income revenues dropped 27.5 per cent to $212.3m . "Our investment banking performance benefited from a strong equities and leveraged finance new issues market and demonstrates our significant market presence and value added capabilities," said chief executive Richard Handler .
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