Lighthouse Group  

Lighthouse predicts expectation-beating profits

Lighthouse predicts expectation-beating profits

Lighthouse Group has said its revenue, earnings and profit before tax for 2017 is set to be ahead of market expectations. 

In an update to the market this morning (12 January), the listed financial advice firm said its performance was driven by both an increase in business from its affinity connections - for example deals to provide advice to trade unions - and from higher levels of average annualised revenue production per adviser across all of its divisions.

In September Lighthouse announced that its profits for the first six months of the year had increased to £1.12m from £829,000 in the same period the previous year.

Lighthouse has 19 affinity relationships with employee organisations representing more than 6m members, including Unison, Unite, Prospect, The Fire Brigades Union and the Royal College of Nursing.

Malcolm Streatfield, chief executive of Lighthouse, said: "The anticipated results for 2017 reflect the continuing and increasing importance of the valuable relationships the group has developed with its affinity partners, with 15,000 new client engagements undertaken during the year, as well as the on-going professionalism and effectiveness of the advisers across the group's operations.

"I look forward to reporting in full on the group's results for 2017 in due course."

Lighthouse will report its full audited results for the year ending on 31 December 2017 on 20 February 2018.

Lighthouse’s asset management business, Luceo Asset Management, which launched in September 2016, saw its assets under management increase from £5m in December 2016 to £20m as of 30 June 2017.