Earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 37% over the year to £3.8m.
The acquisitions of Generali Portfolio Management and UK Wealth Management from Duke Street Capital helped discretionary assets climb 18% to £1.9bn, while total funds under management registered at £4bn.
The acquisition of UKWM, which completed in April, was outside of the reporting period though adds pro-forma funds under management of £5.2bn (£2.2bn of which are discretionary or managed assets).
Group chief executive officer Jonathan Polin spoke of the additional corporate pensions business as making Ashcourt Rowan well-placed to exploit the de-annuitisation of UK pensions as announced in the Budget and reaffirmed its “desire to concentrate on the pre- and post-retirement markets”.
He added: “We have delivered on the objectives to grow underlying profitability, increase assets under management and deliver acquisitions. We have a clear and well defined strategy from which I am confident we can grow the business and create value.”
In April, Ashcourt Rowan hired John Spink to head its financial planning branch, while Chris Legge joined as head of intermediary services to develop partnerships with discretionaries.
