MANCHESTER-based investment banking group WH Ireland continues to mull takeover approaches received during the autumn but says there is no guarantee any offer will be made for the business.

WH Ireland, which is valued at more than £28.5m, added in a trading update that its financial services and stockbroking operations had been hit by summer shockwaves triggered by the US sub-prime lending crisis.

However, the AIM-listed group, which has refurbished its head office in St James's Square, said the impact of lower dealing volumes during the year to November 30 had been offset by a strong contribution from gains on asset sales.

Its corporate finance and broking divisions have continued to perform well, acting on seven AIM admissions and raising more than £30m for clients.

Earlier this year, analysts at Oriel Securities forecast profits before tax of £4.2m for the year, compared with £3.7m for 2006.

Funds under management are around £1.5bn compared with £1.35bn at last year-end.

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