National IFA firm Helm Godfrey has announced a 47% net profit increase for the first six months of 2007.
The provisional figures to 30 June show net profit has increased to £507,000, up from £345,000 at the corresponding time last year.
Turnover is up 34% to £3.7m, from £2.76m.
The half-year result follows the firm’s record full-year 2006 result, when it recorded a £660,000 profit and turnover of £5.9m.
Helm Godfrey attributes its success to a “focus on client needs – providing clarity at a time of increasing complexity – and profitability ahead of turnover”.
It says it has to grow the business through acquisitions such as Fresh Finance in August 2006 and Howard & Co in June 2007.
Helm Godfrey managing director Bruce Wilson says the increases are a result of a clear client proposition, highly qualified client centric advisers and a strong management focused on profitability rather than turnover.
“We also continue to streamline the business through increased use of IT and the development of our wrap proposition,” he says.
“While it is still early days with regard to wrap and increasing assets under management, the benefits to the business are clear and we have already started to see this come through in the numbers.”
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