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Bradbury Hamilton profits soar by 168%

Bradbury Hamilton profits soar by 168%

Bradbury Hamilton has made pre-tax profits of £823,379 for the year ended 30 September, a 168 per cent increase on the £306,639 made during the same period in 2014.

Turnover for the business was up to £2.77m, a 17 per cent increase on the previous year.

A joint venture with accountancy firm Raffingers Stuart also helped build profits last year, with its share of operating profits and dividends meaning the underlying combined turnover rises to £2.93m.

Sheriar Bradbury, managing director of Bradbury Hamilton, called these the firm’s best ever financial results.

He said: “We have significant new business in the pipeline and are expanding substantially.”

Between 1993 and 2013, Bradbury Hamilton acquired some 48 IFA client banks, but ended up making no acquisitions during the year to the end of September, instead favouring a focus on its database of current clients.

Mr Hamilton said: “Unusually, we made no acquisitions in our last financial year; our strategy has been to focus on consolidation and the bedding down of new administrative systems.

“Our sector is beset with change in the form of new regulation and our priority will always be to help our clients protect and grow their income no matter what challenges these changes may bring.”

Last February, he told Financial Adviser that the firm was planning a recruitment drive to take account of its growing size.

peter.walker@ft.com