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 of Perspective Financial Group, said: "We will continue our acquisition strategy, which is to only engage with RDR-ready firms with proven EBITDA, high quality compliance records and a strong management team who remain focused after acquisition.
"Nearly half of our acquisitions to date have successfully completed their earn-out periods and are contributing fully to the group's growth and profitability."
Earlier this year, the company, which started 2011 with 20 firms but has since added three more, revealed it had raised £10.6m for further acquisitions.
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