Perspective reports £1.5m loss due to amortisation

Perspective Financial Group has reported a pre-tax loss of £1.5m for the year ending 31 December 2012, despite significant increases in both revenue and earnings before interest, tax and amortisation (Ebitda).

In a statement published today (2 October), the national advisory group reported revenue of £20.3m, up 13 per cent year-on-year and Ebitda of £5.2m, up 20 per cent year-on-year.

However, £1m of exceptional costs and £4m of amortisation resulted in a net loss of almost £1.5m (£1,454,000).

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The annual results echo those of the previous year, in which Perspective reported a loss of almost £2m due to amortisation and acquisition costs despite a 65 per cent increase in Ebitda to £4.3m.

Damian Keeling, managing director of Perspective, said: “2012 was another year in which the group produced a strong underlying financial performance.

“The profit before tax was impacted by £1m of exceptional costs and £4m of amortisation, which do not affect the very strong underlying trading result.”

He added that the company expects to increase its rate of acquisition over the coming year.

Mr Keeling said: “As part of our growth strategy we have been looking at various funding strategies in recent months including the option of stock market flotation.

“However, after detailed investigation, we decided this particular route wasn’t right for Perspective at this time and we are continuing to evaluate the many options available to us.”