Lighthouse reports £8.5m loss; resumes dividend

It says the loss, compared with a profit of £1.9m the previous year, was largely as a result of a "one-off and conservative" write-down on Sumus, which it acquired in May 2008, and other Lighthouse businesses. According to the IFA, it made a £7.6m write-down, consisting of £5m for Sumus and £2m elsewhere. Reported revenues for the year increased by approximately £1.5m to £54.4m, it says, but points out this "disguises a marked decline" as Sumus contributed £15.3m. On a like-for-like basis therefore, the drop was £13.8m, or 26%. As a result, the IFA says it made a loss of £8.5m, compared...