Perspective Financial Group reduced its losses in 2010 after acquiring nine firms and more than doubling its assets under management.
Allowing for acquisition costs, interest, amortisation and depreciation, the IFA consolidator made a net pre-tax loss of £584,000, an improvement on the £1.68m loss in 2009. Profitability increased at the group which reported a 138% increase in earnings before interest, tax depreciation and amortisation (EBITDA) to £3.1m. This was from revenues of £13.3m, up from £7.7m in 2009. Perspective reported end-of-2010 assets under management of £1.81bn, up from £0.86bn in 2009, while its cash reserves stood at £6.05m, with unused bank facilities of £3.5m. Damian Keeling, managing director ...
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