Shares of WAM Research (ASX:WAX) have ascended to a 4.5 month high, rising by up to 3.1% to hit an A$1.15 peak, their highest since October 2, 2023.

The brokerage services company posted its half-year net profit from ordinary activities after income tax expenses at A$15.1 million, marking an impressive 72.9% increase from last year.

WAM Research declared an interim dividend of 5.0 AU cents per share.

Approximately 274,200 of the shares changed hands, compared to the 30-day average volume of 144,924 shares.

So far, the stock has risen 10.6% this year, taking into account the data as of the last close.

Megha Rani reports.

WAM Research is a brokerage services company.