Shares of Australian Ethical Investment (ASX:AEF) saw a significant increase following the release of their upbeat half-year results.

The shares rose as much as 6.9% to A$5.240 marking their highest level since February 12.

The performance report revealed that the fund manager posted a net profit after tax of A$6.2 million, a notable surge from A$1 million posted last year.

The company also posted impressive half-year revenue figures of A$48.5 million, which highlighted a growth rate of 33% from the previous year.

Throughout the course of this reporting period, around 119,974 shares changed hands.

This volume is 1.1 times higher than the 30-day average volume of shares.

Despite these gains, Australian Ethical Investment’s stock has dipped 9.4% this year, as of the last close.

Australian Ethical Investment (ASX:AEF) is a leading fund manager that emphasizes investments that align with ethical principles.