The firm’s loss after tax improved from £2.6m in 2011/12 to £2.1m, while its EBITDA profitability also improved from £0.3m to £2.8m over the same period.
Jonathan Polin, group chief executive officer, said: “We have returned the company to solid underlying profitability with cost reduction targets achieved ahead of schedule and significant improvement in our operating margins in the second half. We have readied the business for future growth by completing the move to a single, scalable operating platform and refocusing on core activities.”
In a statement published on the stock exchange, the firm said it had met and exceeded its cost reduction targets quicker than expected and launched its RDR-compliant proposition well ahead of deadline.
Polin said: “We have a clear strategy to position the business as a premier provider to the growing UK mass affluent market of integrated financial planning and investment management services to meet the wealth management and pension needs of private clients, charities and corporates.”
The firm has made a series of high profile hires over the past 12 months, the most recent being that of Steven Midgley who was appointed business director of Ashcourt Rowan Financial Planning in May.
