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Lighthouse sees cash balance strengthen

Lighthouse sees cash balance strengthen

National advice firm Lighthouse Group saw its financial position strengthen in the first half of 2018 after a series of client contract wins and renewals.

In a trading update today, the company revealed its cash balance had grown by £1.5m in the six months to the end of June 2018, to £9.6m.

The group said it was now the "preferred financial adviser" to 21 affinity partners, up from 19 at the same point last year.

Lighthouse Group was chosen to continue to provide financial advice to several trade unions including Europe's largest public service trade union Unison, the General Federation of Trade Unions and the Royal College of Nursing.

Other renewal agreements announced in the first six months of the year, include those with Prospect and the Association of School and College Leaders.

In today’s statement, the company said it has "continued to trade positively" in the first half of the year, performing in line with management expectations. The company said it is "confident of further progress over the remainder of the year".

The group’s half year results for the first six months will be published on 4 September 2018.