Due to every major business unit showing...

Due to every major business unit showing a profit in its first quarter ended Dec. 31, 1986, New York-based Paine Webber Group posted a 23.7% increase in profit with a 4.8% rise in revenue over the same period a year ago. A spokesman pointed out that the group’s pretax profits nearly doubled. This success was due in part to higher revenue attributable to a buoyant equities market and increased investment advisory fees resulting from the growth of money under management in proprietary mutual funds, he added.