Bringing you live news and features since 2006 

AFH revenues up 55 per cent

RELATED TOPICS​

Independent financial advisory and wealth management firm AFH has reported an increase in like-for-like revenues of 55 per cent to GBP4,793,072 for the six month period ended 30 April 2013.

 
Recurring income increased by 58 per cent.
 
EBITDA was up 56 per cent to GBP409,574 (2012: GBP262,248), while AFH has reported a strong balance sheet with net assets of GBP12,600,000 (2012: GBP11,500,000) and cash at bank of GBP1,150,000 with no debt.
 
Three further acquisitions were completed during the period, taking total adviser numbers to 120, while AFH also launched a new GBP50m property fund.
 
Alan Hudson (pictured), chairman and chief executive of AFH, says: "Our first half performance has been strong and highly encouraging, especially when one takes into consideration the operational disruption caused by the Retail Distribution Review.
 
"The directors expect to report to shareholders an even stronger second half performance as new advisers and acquisitions start to fully contribute to the bottom line.
 
"Since joining the market, we have successfully integrated 14 acquisitions, moved to larger offices and continued to build our infrastructure, so that the company is scalable, profitable and cash generative. As a result, AFH sits in a very strong position in a sector undergoing fundamental change. I would like to thank the team and, of course, all our shareholders for their continued effort and support." 

Latest News

HSBC Asset Management’s (HSBC AM) ETF and Indexing business has passed USD100 billion in assets under management (AUM), reflecting its..
Amundi’s ETF Market Flows Analysis for April reveals that investors added EUR54.1 billion to global ETFs in April with equities..
VanEck has reached USD10 billion in assets under management in Europe for the first time in April 2024...
Global index revenues increased 9.3 per cent in 2023, totalling a record USD5.8 billion, according to a benchmark study published..

Related Articles

Dan Miller, IQ-EQ
With just over a week to go till T+1 settlement begins in North America, Canada and Mexico, time is of...
Emily Spurling, Nasdaq
Last October’s ETF Express US Awards 2023 found Nasdaq winning Best Index Provider – ESG ETFs and Best Index Provider...
Vinit Srivistava, MerQube
Index provider, MerQube, launched in 2019, with the aim of providing a “technology-driven answer to the most complex, rules-based investment...
Sean O' Hara
Pacer ETFs has announced the launch of three Cash Cows UCITS ETFs. The firm writes that this will give European...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by