Lighthouse Group  

Lighthouse expects profit growth

Lighthouse expects profit growth

Lighthouse Group is expecting to report revenue and profit growth for 2018 in line with the board’s expectations.

In a statement released to investors today (January 11), Malcolm Streatfield, chief executive at Lighthouse, said the listed business had seen another period of growth.

He said: "Our advisers continue to deliver quality advice to our customers and the annualised revenue production per adviser and levels of recurring revenue continue to build.

"I look forward to updating the market further at the time of reporting the group's result for 2018."

Lighthouse expects to report on its full audited results in late February.

In its interim results published in September 2018 the advice group posted an increase in revenue of 5 per cent to £26.88m and a growth in pre-tax profits by 12 per cent to £1.26m for the half year to June.

Lighthouse largely attributed its growing revenue to an increase in income from its affinity partnerships, particularly in its national division Lighthouse Financial Advice, which accounted for 20 per cent of revenues generated from customers.

In the same results it was announced the group’s chairman, Richard Last, would stand down from the company’s board and not stand for re-election as a director in May this year.

Mr Last had served as director of the company since 2007 and as chairman since 2012.

Late last year Lighthouse also announced a “strategic agreement” with Tavistock Investments which saw the latter take a 5.3 per cent stake in the former for £1m.

As part of the partnership the two companies agreed to establish an investment management service together, intended to develop and distribute investment products and services under Lighthouse's Luceo brand to that company's clients through its advisers.