In its results for the year ended 31 December, the firm added that the purchase of Ingenious in April and Towry in July of last year had a “transformational effect” on turnover and earnings.
If both businesses had been owned by Tilney Group throughout the entirety of 2016, EBIDTA would have come in at £65m, three times higher than 2015’s figure.
On a reported basis, the EBIDTA figure was only £43m but that was still over double the profits taken in the year prior (2015: £17.6m).
Revenues increased to £132.5m from £69m on a reported basis.
CEO Peter Hall was keen to point out the firm’s “strong organic growth” achieved at the same time the acquisitions were taking place.
The number of advisers across Tilney’s 30 offices expanded from 146 to 328 over the year and gross new money per adviser was up from £9.8m to £10m.
This year, the group has been vocal about its “new organic growth phase” under its rebranded name Tilney Group, that has seen it nix the Bestinvest name.
