Tenet Group has reversed last year's multi-million pound loss to post a net profit of £300,000 for the 12 months to 30 September 2013.
This compares to a loss of £4.5m for the same period in 2012. That loss came after the network made a £4.5m provision for claims relating to Arch Cru and Keydata.
However, this year's results are more positive with earnings at £1m, up from £249,000 in 2012. Group revenue increased by 22% to £118m, and gross profit was up by 7% to £19.2m.
The group said it has a significant war chest of £23.6m cash in the bank, £28.6m of net assets and no external debt.
Its largest brand, investment network TenetConnect, has achieved a "good level" of organic growth, the group said, despite losing some retiring advisers who chose not to qualify for QCF level 4.
Overall, TenetConnect adviser numbers grew by 5%.
Tenet group chief executive Martin Greenwood said: "The strong balance sheet, together with investment in people, practices and technology, gives Tenet a strong post-Retail Distribution Review (RDR) market position in 2014.
"The £1m group profit before interest, tax, depriciation amortisation and non recurring expenses has been generated despite increased administrative expenses due to the cost of RDR training, improved research and compliance and investment in the Tenet Advantage system."
Greenwood added Tenet is considering the possibility of growth through acquisitions.
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