Financial advice consolidator AFH has seen its revenues increase by 35 per cent to £33m in the year to the end of October.
The company also saw its funds under management grow to more than £2.7bn, compared with £2bn for the previous year.
AFH stated there had been “continued expansion” of its earnings before interest, tax, depreciation and amortisation margin, but did not provide details of what this was.
Alan Hudson, chief executive of AFH, said: “AFH continues to be active in the market to acquire good quality IFAs whilst remaining focussed on ensuring shareholder value by executing acquisitions that are earnings accretive.
“The success and robustness of our acquisition model is reflected in the high level of acquisitions meeting earn out targets and the strong cash flow generated by the business to finance these earn out payments.
“AFH has continued to attract new funds throughout the year and I am pleased to report double digit organic growth in our funds under management.”
In the year to Tuesday 31 October, the company made 13 acquisitions as well as the purchase of the protection business of Eunisure.
Revenue from acquisitions was around £4.5m while a similar level of growth was generated organically, representing like for like growth of 20 per cent.
During the 12 month period, AFH raised £10m through a placing of new shares, with more than 70 per cent of this allocated towards new acquisitions.
damian.fantato@ft.com
