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Matsui Securities Co. said Wednesday it chalked up a consolidated net profit of 2.51 billion yen in the first half of fiscal 2003, up 326.6 percent from the 588 million yen earned in the first half of fiscal 2002.

The online brokerage house attributed this steep profit growth to active trading on the Tokyo Stock Exchange, as well as to a drop in sales and administrative expenses.

In its consolidated earnings report for the fiscal first half, Matsui Securities said it posted a pretax profit of 4.96 billion yen, up 200.9 percent from a year earlier, on operating revenues of 10.07 billion yen, up 44.4 percent.

Net profit per share jumped to 28.46 yen from 6.71 yen. The firm did not disclose a forecast for the full fiscal year.

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