Novia's ongoing arrangement to build and administer Aegon's platform netted the group's subsidiary £1m in 2012, the latest results have revealed.
Novia Investment Services, which was launched in 2011 with the sole purpose of building and operating a platform for Aegon, has reported full-year profits before tax of £968,414, up from £106,626 the previous year.
The jump in profits follows a sharp increase in revenue from £13.4m to £17m, which Novia said was down to "increased development work and the continuing administration of the Aegon platform".
After tax profit for the year at the business came in at £727,327, up from £79,733.
Chief executive of Novia, Bill Vasilieff (pictured), said: "2012 has seen the company grow both in revenue and profitability at a greater rate than had been forecast.
"The continuing development of the relationship with Aegon and the underlying capabilities of the company give it a strong position in the market."
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