Financial advice consolidator AFH saw its post-tax profits increase by 83 per cent in the year ending in October 2017.
The Aim-listed company posted profits after tax of £3.1m compared with £1.7m for the same period the previous year.
Meanwhile revenues increased by 39 per cent to £33.6m and underlying earnings before interest, tax, depreciation and amortisation increased by 57 per cent to £5.7m.
Funds under management increased by 39 per cent to £2.8bn.
Alan Hudson, the chief executive of AFH, said there had been an increasing organic demand for financial planning-led wealth management services.
He said: "The year under review produced our fourth consecutive year of growth and improved profitability since joining Aim in 2014.
"New business and continued demand for financial advice from existing clients, together with a series of earnings accretive acquisitions during the year, enabled the group to grow its funds under management to £2.8bn and increase revenues to £33.6m whilst the efficiencies and economies of scale that we have worked towards generated a further improvement to our Ebitda margin and continues our progress to our three to five year aspirational target."
Over the 12-month period, AFH made 14 acquisitions with a combined value of £18.7m, with 13 of these being IFA businesses and one being the acquisition of Eunisure, a financial protection broker.
Mr Hudson said the company had set itself three targets to be achieved in a three-to-five-year timeframe: achieving funds under management of £5bn, revenues of £75m and an underlying Ebitda margin of 20 per cent on revenue.
John Wheatley, the chairman of AFH, said the company had cash assets of more than £20m and was looking for "appropriately-priced opportunities" to spend this money on.
damian.fantato@ft.com
